Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 182,801 shares of the financial services provider’s stock after purchasing an additional 2,047 shares during the quarter. United Capital Financial Advisors LLC owned approximately 0.06% of Iron Mountain worth $19,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IRM. Wealthfront Advisers LLC grew its position in shares of Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the last quarter. Norges Bank bought a new position in Iron Mountain in the 4th quarter worth about $348,249,000. TD Asset Management Inc. increased its stake in shares of Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after purchasing an additional 1,086,308 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $55,271,000. Finally, Invesco Ltd. boosted its position in shares of Iron Mountain by 17.2% during the fourth quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider’s stock worth $260,969,000 after buying an additional 363,783 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

Shares of IRM opened at $83.26 on Wednesday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The stock has a market capitalization of $24.46 billion, a P/E ratio of 136.49, a P/E/G ratio of 5.15 and a beta of 0.97. The firm’s 50 day moving average is $88.63 and its 200-day moving average is $105.07.

Iron Mountain (NYSE:IRM) last posted its quarterly 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). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $0.52 EPS. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were paid a $0.785 dividend. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.77%. 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%.

Analysts Set New Price Targets

Several research firms recently commented on IRM. Barclays lowered their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Truist Financial began coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $121.29.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 318,973 shares of company stock worth $29,370,872. Company insiders own 2.10% of the company’s stock.

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.