PGGM Investments Has $113.98 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

PGGM Investments raised its position in Iron Mountain Incorporated (NYSE:IRM) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,084,387 shares of the financial services provider’s stock after purchasing an additional 734 shares during the quarter. Iron Mountain accounts for approximately 1.5% of PGGM Investments’ holdings, making the stock its 20th largest holding. PGGM Investments owned 0.37% of Iron Mountain worth $113,980,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Key Financial Inc boosted its holdings in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the 4th quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the third quarter valued at about $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the third quarter worth about $36,000. Finally, Parkworth Wealth Management Inc. acquired a new position in Iron Mountain during the fourth quarter valued at approximately $53,000. 80.13% of the stock is currently owned by institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction that occurred 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 327,242 shares of company stock worth $31,530,305 in the last ninety days. 2.10% of the stock is owned by company insiders.

Iron Mountain Price Performance

Shares of IRM opened at $86.45 on Thursday. The company’s 50-day moving average is $99.06 and its 200-day moving average is $110.45. The firm has a market capitalization of $25.39 billion, a PE ratio of 141.72, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results 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). The company 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 period in the prior year, the company earned $0.52 earnings per share. Analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. 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 research note on Tuesday, February 4th. Royal Bank of Canada boosted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Barclays cut their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $127.67.

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.