Iron Mountain Incorporated $IRM Shares Sold by Burney Co.

Key Points

• Burney Co. cut its Iron Mountain stake by 35.5% in the first quarter, selling 16,579 shares and leaving it with 30,068 shares valued at about $3.07 million.
• Iron Mountain reported stronger-than-expected quarterly results, with EPS of $0.60 versus the $0.50 estimate and revenue of $1.94 billion, up 21.5% year over year.
• Analysts remain generally positive on the stock, with several firms raising price targets and the consensus rating sitting at “Moderate Buy” with an average target price of $134.33.

Burney Co. trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 35.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,068 shares of the financial services provider's stock after selling 16,579 shares during the quarter. Burney Co.'s holdings in Iron Mountain were worth $3,071,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IRM. Garton & Associates Financial Advisors LLC bought a new position in shares of Iron Mountain during the fourth quarter worth about $25,000. Johnson Financial Group Inc. bought a new stake in Iron Mountain in the third quarter valued at about $32,000. Beaird Harris Wealth Management LLC raised its stake in Iron Mountain by 17,500.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock valued at $29,000 after buying an additional 350 shares in the last quarter. Bayban acquired a new stake in Iron Mountain during the fourth quarter valued at approximately $33,000. Finally, DV Equities LLC bought a new position in Iron Mountain during the 4th quarter worth approximately $34,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Up 0.1%

Iron Mountain stock opened at $116.55 on Wednesday. The firm has a 50-day moving average price of $125.75 and a two-hundred day moving average price of $108.89. The firm has a market capitalization of $34.68 billion, a price-to-earnings ratio of 128.08 and a beta of 1.19. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. Iron Mountain's revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 earnings per share. 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. Research analysts expect that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a dividend of $0.864 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.46 annualized dividend and a yield of 3.0%. Iron Mountain's payout ratio is presently 380.22%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Truist Financial set a $140.00 price objective on Iron Mountain in a research note on Friday, May 1st. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Weiss Ratings raised shares of Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, June 23rd. Finally, Barclays raised their price target on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $134.33.

Insider Activity

In other news, CAO Daniel Borges sold 7,189 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of Iron Mountain stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total transaction of $94,208.65. Following the sale, the director owned 1,135 shares in the company, valued at approximately $141,250.75. This represents a 40.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 137,260 shares of company stock worth $17,361,672 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

Iron Mountain Company Profile

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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