TD Waterhouse Canada Inc. Purchases 4,956 Shares of Iron Mountain Incorporated (NYSE:IRM)

TD Waterhouse Canada Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,734 shares of the financial services provider's stock after buying an additional 4,956 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Iron Mountain were worth $3,441,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IRM. World Investment Advisors LLC bought a new position in Iron Mountain during the third quarter worth about $554,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Iron Mountain during the 3rd quarter worth approximately $837,000. Tidal Investments LLC increased its holdings in shares of Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after purchasing an additional 14,737 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of Iron Mountain in the third quarter valued at approximately $10,206,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain in the third quarter valued at approximately $24,122,000. Institutional investors own 80.13% of the company's stock.

Insider Buying and Selling

In other Iron Mountain 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 transaction, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock worth $29,370,872 in the last ninety days. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays dropped their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Truist Financial started coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Wells Fargo & Company cut 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 raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, JPMorgan Chase & Co. cut their target price on 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 hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $121.29.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $83.04 on Wednesday. The company's 50 day moving average price is $86.62 and its two-hundred day moving average price is $103.84. The firm has a market capitalization of $24.39 billion, a P/E ratio of 136.13, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share 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 firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the business earned $0.52 EPS. On average, analysts expect 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 was paid on Friday, April 4th. Investors of record on Monday, March 17th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

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.

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