Canada Pension Plan Investment Board Acquires Shares of 29,362 Iron Mountain Incorporated $IRM

Key Points

• Canada Pension Plan Investment Board acquired 29,362 Iron Mountain shares worth approximately $3.7 million, while institutional investors collectively own 80.13% of the company.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $137.67; several firms recently raised their targets, although Weiss Ratings downgraded the stock to “hold.”
• Iron Mountain exceeded quarterly earnings and revenue expectations, reporting $0.60 EPS and $2.03 billion in revenue, while declaring a quarterly dividend of $0.864 per share, representing a 2.9% yield.

Canada Pension Plan Investment Board bought a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 29,362 shares of the financial services provider's stock, valued at approximately $3,709,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Iron Mountain during the second quarter worth about $4,240,342,000. Norges Bank purchased a new stake in Iron Mountain in the 4th quarter valued at about $368,890,000. Legal & General Group Plc bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $409,843,000. Cohen & Steers Inc. lifted its position in shares of Iron Mountain by 20.0% during the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock worth $1,568,110,000 after buying an additional 3,155,034 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Iron Mountain in the 2nd quarter worth approximately $385,129,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IRM. Wells Fargo & Company increased their price target on Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Zacks Research raised Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Barclays raised their target price on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. Truist Financial lifted their target price on Iron Mountain from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Weiss Ratings downgraded shares of Iron Mountain from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.67.

Insider Activity

In related news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the completion of the sale, the executive vice president owned 101,507 shares of the company's stock, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 82,948 shares of company stock valued at $10,143,093. 1.70% of the stock is currently owned by insiders.

Iron Mountain Stock Up 0.1%

Shares of IRM stock opened at $117.55 on Monday. The firm has a market cap of $34.99 billion, a P/E ratio of 83.96 and a beta of 1.20. The company has a 50 day moving average of $123.89 and a 200-day moving average of $118.28. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. Iron Mountain's revenue for the quarter was up 18.5% on a year-over-year basis. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. As a group, equities analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain's dividend payout ratio is currently 247.14%.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers' digital transformation.

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