Envestnet Portfolio Solutions Inc. Has $835,000 Stake in Iron Mountain Incorporated $IRM

Envestnet Portfolio Solutions Inc. decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 13.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,143 shares of the financial services provider’s stock after selling 1,275 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Iron Mountain were worth $835,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its position in shares of Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 1,860 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after purchasing an additional 913,715 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain in the first quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC grew its position in shares of Iron Mountain by 1.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 513 shares during the last quarter. Finally, Inspire Trust Co. N.A. grew its position in shares of Iron Mountain by 21.4% in the first quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Barclays boosted their price target on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Jefferies Financial Group assumed coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target for the company. Zacks Research cut Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, JPMorgan Chase & Co. cut their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $116.83.

Iron Mountain Stock Performance

Shares of IRM stock opened at $104.60 on Monday. The stock’s fifty day moving average price is $97.67 and its two-hundred day moving average price is $96.15. The company has a market cap of $30.89 billion, a PE ratio of 747.20 and a beta of 1.06. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. On average, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

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.