Core Wealth Partners LLC Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Core Wealth Partners LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,127 shares of the financial services provider’s stock after selling 790 shares during the quarter. Core Wealth Partners LLC’s holdings in Iron Mountain were worth $329,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Iron Mountain by 1.6% during the 3rd 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 period. Wealthfront Advisers LLC increased its position in shares of Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Iron Mountain by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after acquiring an additional 92,475 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Iron Mountain by 537.0% in 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 valued at $376,756,000 after acquiring an additional 2,672,821 shares in the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after acquiring an additional 1,086,308 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of IRM opened at $87.84 on Wednesday. The firm has a fifty day moving average price of $96.32 and a 200 day moving average price of $108.88. The stock has a market cap of $25.80 billion, a PE ratio of 144.00, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period last year, the company earned $0.52 earnings per share. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced 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. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.57%. 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 presently 514.75%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This represents a 42.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock worth $30,666,904 in the last 90 days. 2.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IRM. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Barclays lowered their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Finally, Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and a consensus price target of $125.67.

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.