Envestnet Portfolio Solutions Inc. Sells 11,164 Shares of Iron Mountain Incorporated (NYSE:IRM)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 46.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,833 shares of the financial services provider's stock after selling 11,164 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Iron Mountain were worth $1,349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth $26,000. Key Financial Inc grew its position in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the 3rd quarter valued at about $36,000. Dunhill Financial LLC lifted its position in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after buying an additional 152 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider's stock worth $59,000 after buying an additional 230 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IRM. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Barclays lowered their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank of Canada boosted their target price 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, JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of "Buy" and a consensus price target of $125.67.

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Iron Mountain Stock Down 1.0 %

IRM traded down $0.91 during trading on Wednesday, reaching $86.96. 1,226,212 shares of the company were exchanged, compared to its average volume of 1,683,521. The company has a market cap of $25.54 billion, a price-to-earnings ratio of 142.55, a P/E/G 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 is $96.32 and its two-hundred day moving average is $108.88.

Iron Mountain (NYSE:IRM - Get Free Report) last released 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). The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate 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 quarter last year, the business posted $0.52 earnings per share. Equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 3.61%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is presently 514.75%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated 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 owns 237,402 shares in the company, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of the company'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. Over the last quarter, insiders sold 318,979 shares of company stock valued at $30,666,904. Company insiders own 2.10% of the company's stock.

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.