Iron Mountain Incorporated $IRM Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 27.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,824 shares of the financial services provider's stock after acquiring an additional 21,213 shares during the period. Bank of Nova Scotia's holdings in Iron Mountain were worth $10,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in IRM. Cohen & Steers Inc. increased its position in shares of Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider's stock valued at $1,568,110,000 after acquiring an additional 3,155,034 shares during the last quarter. State Street Corp lifted its position in Iron Mountain by 1.9% in the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock valued at $1,759,494,000 after acquiring an additional 322,144 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Iron Mountain by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider's stock worth $685,374,000 after buying an additional 102,073 shares during the period. Invesco Ltd. lifted its stake in shares of Iron Mountain by 18.1% in the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock worth $516,481,000 after acquiring an additional 776,933 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Iron Mountain by 8.5% in the first quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider's stock valued at $466,382,000 after buying an additional 358,497 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Performance

NYSE IRM opened at $128.33 on Monday. The stock has a market cap of $38.18 billion, a price-to-earnings ratio of 141.03 and a beta of 1.19. The firm's 50 day moving average price is $125.31 and its two-hundred day moving average price is $112.65. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.10. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm's revenue was up 21.5% on a year-over-year basis. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. On average, research analysts forecast that Iron Mountain Incorporated will post 5.4 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were given a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, June 15th. Iron Mountain's dividend payout ratio (DPR) is currently 380.22%.

Insider Activity at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $127.91, for a total transaction of $767,460.00. Following the completion of the transaction, the executive vice president owned 119,507 shares of the company's stock, valued at approximately $15,286,140.37. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pamela M. Arway sold 1,892 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total transaction of $244,011.24. Following the completion of the sale, the director owned 40,196 shares of the company's stock, valued at approximately $5,184,078.12. The trade was a 4.50% decrease in their position. 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 90 days, insiders have sold 137,260 shares of company stock worth $17,361,672. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen lowered Iron Mountain from a "buy" rating to a "hold" rating in a report on Saturday. JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Wells Fargo & Company boosted their price target on Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Barclays boosted their price objective on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings lowered Iron Mountain from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Iron Mountain currently has an average rating of "Moderate Buy" and a consensus target price of $134.33.

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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