PGGM Investments Has $113.98 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

PGGM Investments increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,084,387 shares of the financial services provider’s stock after purchasing an additional 734 shares during the period. Iron Mountain makes up 1.5% of PGGM Investments’ holdings, making the stock its 20th biggest holding. PGGM Investments’ holdings in Iron Mountain were worth $113,980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRM. OneDigital Investment Advisors LLC lifted its holdings in shares of Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 89 shares during the last quarter. Geller Advisors LLC lifted its stake in Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after buying an additional 100 shares during the last quarter. Claro Advisors LLC increased its holdings in shares of Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 103 shares in the last quarter. Finally, Premier Path Wealth Partners LLC lifted its stake in shares of Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,242 shares of company stock worth $31,530,305. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $86.45 on Thursday. The company’s 50 day moving average price is $99.06 and its 200-day moving average price is $110.45. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The company has a market capitalization of $25.39 billion, a P/E ratio of 141.72, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

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 the consensus estimate 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 firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.63%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Barclays reduced their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $127.67.

Iron Mountain 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.