Vanguard Group Inc. Has $4.90 Billion Stake in Iron Mountain Incorporated (NYSE:IRM)

Vanguard Group Inc. raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,605,170 shares of the financial services provider’s stock after purchasing an additional 1,332 shares during the period. Vanguard Group Inc. owned 15.88% of Iron Mountain worth $4,898,669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Financial Services Inc grew its position in shares of Iron Mountain by 11.3% in the third quarter. Prospera Financial Services Inc now owns 2,808 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 285 shares during the last quarter. Citigroup Inc. boosted its stake in Iron Mountain by 8.4% during the 3rd quarter. Citigroup Inc. now owns 268,389 shares of the financial services provider’s stock valued at $31,893,000 after purchasing an additional 20,905 shares during the period. Nwam LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at approximately $289,000. Cerity Partners LLC increased its position in Iron Mountain by 47.4% in the 3rd quarter. Cerity Partners LLC now owns 29,362 shares of the financial services provider’s stock worth $3,489,000 after buying an additional 9,442 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Iron Mountain by 29.8% during the third quarter. Larson Financial Group LLC now owns 557 shares of the financial services provider’s stock worth $66,000 after buying an additional 128 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Up 3.0 %

NYSE:IRM opened at $90.14 on Tuesday. The firm has a market cap of $26.48 billion, a PE ratio of 147.77, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The company’s 50-day moving average price is $96.65 and its two-hundred day moving average price is $109.03.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.48%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is currently 514.75%.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction that occurred on 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 a total of 318,979 shares of company stock valued at $30,666,904 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price 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. Barclays cut their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Royal Bank of Canada lifted their target price 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 raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $125.67.

About Iron Mountain

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.