Brookmont Capital Management Makes New $2.89 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

Brookmont Capital Management purchased a new stake in Equinix, Inc. (NASDAQ:EQIX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,506 shares of the financial services provider’s stock, valued at approximately $2,894,000. Equinix comprises about 1.5% of Brookmont Capital Management’s investment portfolio, making the stock its 26th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Valley National Advisers Inc. raised its position in Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in Equinix during the 4th quarter worth $32,000. Operose Advisors LLC acquired a new position in shares of Equinix during the 3rd quarter worth $36,000. Rise Advisors LLC acquired a new position in shares of Equinix during the 1st quarter worth $39,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Equinix during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

EQIX has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Royal Bank of Canada lowered their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Truist Financial upped their price target on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Morgan Stanley lowered their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $872.50.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Equinix Trading Up 0.6 %

NASDAQ:EQIX traded up $4.64 on Friday, reaching $756.60. The stock had a trading volume of 1,146,796 shares, compared to its average volume of 601,063. The company has a market cap of $71.81 billion, a price-to-earnings ratio of 75.89, a P/E/G ratio of 2.58 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm’s fifty day moving average is $755.85 and its two-hundred day moving average is $800.20. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.25%. Equinix’s dividend payout ratio (DPR) is 170.91%.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.