Envestnet Portfolio Solutions Inc. Sells 3,415 Shares of Iron Mountain Incorporated (NYSE:IRM)

Envestnet Portfolio Solutions Inc. lessened its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 26.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,418 shares of the financial services provider's stock after selling 3,415 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Iron Mountain were worth $810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC lifted its position in Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after acquiring an additional 6,795,792 shares during the last quarter. Norges Bank acquired a new position in shares of Iron Mountain during the fourth quarter worth $348,249,000. Northern Trust Corp lifted its holdings in shares of Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after purchasing an additional 1,554,746 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after purchasing an additional 1,086,308 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Iron Mountain by 439.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock worth $126,201,000 after buying an additional 978,251 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Iron Mountain stock opened at $102.77 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The company has a market cap of $30.32 billion, a PE ratio of 250.66 and a beta of 1.09. The business's 50-day simple moving average is $96.65 and its two-hundred day simple moving average is $96.60.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.06%. Iron Mountain's dividend payout ratio is presently 765.85%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total value of $807,383.72. Following the transaction, the executive vice president now owns 70,114 shares of the company's stock, valued at approximately $6,740,759.96. This represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,673 shares of company stock valued at $20,319,408. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of research analyst reports. Barclays increased their price target on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Truist Financial initiated coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $121.71.

About Iron Mountain

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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