Kestra Private Wealth Services LLC Has $1.25 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Kestra Private Wealth Services LLC grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 14.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,537 shares of the financial services provider’s stock after buying an additional 1,860 shares during the period. Kestra Private Wealth Services LLC’s holdings in Iron Mountain were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in IRM. Whittier Trust Co. lifted its holdings in shares of Iron Mountain by 3.4% in the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 108 shares in the last quarter. Belpointe Asset Management LLC increased its position in Iron Mountain by 1.6% in the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock worth $821,000 after buying an additional 112 shares during the last quarter. DoubleLine ETF Adviser LP grew its position in shares of Iron Mountain by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider’s stock valued at $2,214,000 after purchasing an additional 114 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 118 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in Iron Mountain by 1.9% during the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock worth $572,000 after buying an additional 123 shares in 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 news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the sale, the executive vice president owned 35,446 shares of the company’s stock, valued at approximately $3,544,600. The trade was a 32.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total transaction of $612,120.00. Following the sale, the executive vice president directly owned 91,081 shares in the company, valued at approximately $9,292,083.62. The trade was a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 240,007 shares of company stock worth $23,649,959 in the last 90 days. 1.90% of the stock is currently owned by insiders.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $99.33 on Thursday. The firm has a market capitalization of $29.31 billion, a PE ratio of 242.26 and a beta of 1.08. The business has a 50 day simple moving average of $100.03 and a two-hundred day simple moving average of $95.52. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.16%. The ex-dividend date was Monday, June 16th. Iron Mountain’s payout ratio is 765.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price on the stock. Finally, Barclays increased their target price on Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and an average target price of $121.71.

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.