Iron Mountain Incorporated (NYSE:IRM) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 40.7% in the fourth quarter, Holdings Channel reports. The fund owned 5,991 shares of the financial services provider’s stock after selling 4,104 shares during the period. TD Private Client Wealth LLC’s holdings in Iron Mountain were worth $630,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. One Charles Private Wealth Services LLC raised its stake in Iron Mountain by 1.0% during the fourth quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 119 shares during the period. Lee Danner & Bass Inc. increased its holdings in shares of Iron Mountain by 36.7% during the 4th quarter. Lee Danner & Bass Inc. now owns 34,450 shares of the financial services provider’s stock worth $3,621,000 after buying an additional 9,245 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after buying an additional 155 shares during the period. Whittier Trust Co. lifted its holdings in Iron Mountain by 4.8% in the fourth quarter. Whittier Trust Co. now owns 3,157 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 144 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Iron Mountain by 36.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 157,117 shares of the financial services provider’s stock worth $16,515,000 after acquiring an additional 42,326 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IRM. JPMorgan Chase & Co. dropped their price target 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. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $125.67.

Insider Activity

In other news, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $87.64 on Monday. The stock has a 50-day simple moving average of $96.89 and a 200-day simple moving average of $109.17. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The stock has a market capitalization of $25.74 billion, a PE ratio of 143.67, a PEG ratio of 5.15 and a beta of 1.04.

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

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 514.75%.

Iron Mountain Company Profile

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.