PNC Financial Services Group Inc. Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

PNC Financial Services Group Inc. boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 6.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 57,194 shares of the financial services provider’s stock after acquiring an additional 3,317 shares during the period. PNC Financial Services Group Inc.’s holdings in Iron Mountain were worth $6,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at $240,000. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at $31,000. Nations Financial Group Inc. IA ADV grew its stake in shares of Iron Mountain by 82.4% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,200 shares of the financial services provider’s stock valued at $737,000 after buying an additional 2,801 shares during the period. WealthPLAN Partners LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at $213,000. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of Iron Mountain by 40.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,270 shares of the financial services provider’s stock valued at $270,000 after buying an additional 651 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock worth $31,530,305 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

Shares of IRM stock opened at $86.45 on Thursday. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The firm has a market capitalization of $25.39 billion, a P/E ratio of 141.72, a P/E/G ratio of 5.15 and a beta of 1.04. The company’s fifty day moving average price is $99.06 and its two-hundred day moving average price is $110.45.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. 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 prior year, the firm earned $0.52 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.63%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s 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.