Commonwealth Equity Services LLC Acquires 2,361 Shares of Iron Mountain Incorporated (NYSE:IRM)

Commonwealth Equity Services LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 225,063 shares of the financial services provider’s stock after acquiring an additional 2,361 shares during the period. Commonwealth Equity Services LLC’s holdings in Iron Mountain were worth $23,656,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Balboa Wealth Partners increased its holdings in shares of Iron Mountain by 92.0% during the fourth quarter. Balboa Wealth Partners now owns 4,031 shares of the financial services provider’s stock worth $424,000 after buying an additional 1,931 shares in the last quarter. Erste Asset Management GmbH raised its position in Iron Mountain by 6.4% in the 4th quarter. Erste Asset Management GmbH now owns 86,600 shares of the financial services provider’s stock valued at $9,068,000 after purchasing an additional 5,200 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in shares of Iron Mountain by 15.5% during the fourth quarter. Achmea Investment Management B.V. now owns 42,770 shares of the financial services provider’s stock worth $4,495,000 after purchasing an additional 5,747 shares during the last quarter. Truvestments Capital LLC increased its stake in shares of Iron Mountain by 1.0% in the fourth quarter. Truvestments Capital LLC now owns 14,416 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 143 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in shares of Iron Mountain in the fourth quarter valued at about $53,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IRM shares. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays dropped their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $127.67.

Iron Mountain Trading Up 1.9 %

Shares of NYSE IRM opened at $86.68 on Monday. The stock has a 50 day moving average of $98.28 and a 200-day moving average of $110.03. The company has a market capitalization of $25.46 billion, a P/E ratio of 142.09, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.62%. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock worth $31,530,305 in the last 90 days. Insiders own 2.10% of the company’s stock.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.