NewEdge Wealth LLC Acquires New Position in Iron Mountain Incorporated $IRM

Key Points

• NewEdge Wealth acquired 21,343 Iron Mountain shares worth approximately $2.7 million in the second quarter. Institutional investors and hedge funds collectively own 80.13% of the company.
• Iron Mountain reported quarterly revenue of $2.03 billion, up 18.5% year over year, and adjusted earnings of $0.60 per share, beating analyst expectations of $0.54.
• The company declared a quarterly dividend of $0.864 per share, equivalent to an annualized $3.46 dividend and a 2.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $135.17.

NewEdge Wealth LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,343 shares of the financial services provider's stock, valued at approximately $2,696,000.

Several other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Iron Mountain by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock valued at $2,573,000 after purchasing an additional 1,286 shares during the period. Empowered Funds LLC grew its holdings in Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock valued at $493,000 after buying an additional 537 shares during the period. Woodline Partners LP lifted its holdings in shares of Iron Mountain by 41.0% during the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock worth $2,129,000 after acquiring an additional 7,193 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Iron Mountain by 29.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider's stock valued at $136,000 after purchasing an additional 300 shares during the period. Finally, Cerity Partners LLC increased its position in Iron Mountain by 3.6% during the second quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider's stock worth $3,620,000 after purchasing an additional 1,222 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 38,474 shares of the company's stock in a transaction dated Friday, August 7th. The stock was 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 of the company's stock, valued at $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Friday, August 7th. The shares were 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 127,422 shares of company stock worth $15,810,652. 1.70% of the stock is currently owned by insiders.

Iron Mountain Stock Up 0.8%

Iron Mountain stock opened at $123.09 on Friday. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. The firm has a fifty day moving average of $124.62 and a 200-day moving average of $117.04. The firm has a market capitalization of $36.64 billion, a P/E ratio of 87.92 and a beta of 1.20.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The business's quarterly revenue 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. On average, research analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's payout ratio is currently 247.14%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IRM shares. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Zacks Research upgraded Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. 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 research report on Friday, May 1st. Truist Financial set a $140.00 price target on Iron Mountain in a research note on Friday, May 1st. Finally, Barclays raised their price objective on Iron Mountain from $127.00 to $143.00 and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Iron Mountain presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.17.

Iron Mountain 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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