WealthBridge Capital Management LLC Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

WealthBridge Capital Management LLC increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 13,181 shares of the financial services provider’s stock after purchasing an additional 322 shares during the period. WealthBridge Capital Management LLC’s holdings in Iron Mountain were worth $1,385,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Iron Mountain by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock worth $978,479,000 after buying an additional 128,622 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Iron Mountain by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock worth $402,396,000 after buying an additional 141,675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after buying an additional 2,672,821 shares during the last quarter. Captrust Financial Advisors boosted its stake in Iron Mountain by 5.2% during the third quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after buying an additional 47,327 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Iron Mountain by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider’s stock worth $95,726,000 after buying an additional 10,160 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRM has been the topic of several recent analyst reports. Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.67.

Iron Mountain Trading Down 1.6 %

IRM opened at $92.69 on Thursday. The stock’s 50-day moving average price is $104.30 and its 200 day moving average price is $112.52. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24. The firm has a market cap of $27.20 billion, a price-to-earnings ratio of 151.96, a PEG ratio of 5.25 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last posted its 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). 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 for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company posted $0.52 EPS. On average, research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is presently 468.85%.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by insiders.

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.