LPL Financial LLC Trims Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

LPL Financial LLC decreased its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 568,835 shares of the financial services provider's stock after selling 21,795 shares during the quarter. LPL Financial LLC owned about 0.19% of Iron Mountain worth $59,790,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in shares of Iron Mountain by 47.4% in the third quarter. Cerity Partners LLC now owns 29,362 shares of the financial services provider's stock valued at $3,489,000 after purchasing an additional 9,442 shares during the period. Larson Financial Group LLC lifted its position in shares of Iron Mountain by 29.8% during the 3rd quarter. Larson Financial Group LLC now owns 557 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 128 shares during the period. Summit Trail Advisors LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $571,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $271,000. Finally, Loomis Sayles & Co. L P increased its stake in Iron Mountain by 3,253.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 872 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 846 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were 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 sold 318,979 shares of company stock valued at $30,666,904 over the last quarter. Company insiders own 2.10% of the company's stock.

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Iron Mountain Trading Up 1.2 %

Shares of Iron Mountain stock traded up $1.04 during trading hours on Monday, reaching $86.14. The stock had a trading volume of 2,368,331 shares, compared to its average volume of 1,765,927. The firm has a market capitalization of $25.30 billion, a price-to-earnings ratio of 141.21, a P/E/G 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. The firm has a 50 day simple moving average of $94.51 and a two-hundred day simple moving average of $108.10.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly 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 net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 514.75%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IRM. Barclays lowered their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. StockNews.com downgraded shares of Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday. Wells Fargo & Company reduced their price target 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate 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.