QRG Capital Management Inc. Acquires 14,031 Shares of Iron Mountain Incorporated $IRM

Key Points

• QRG Capital Management increased its Iron Mountain stake by 27.6% in Q1, buying 14,031 additional shares and bringing its total holdings to 64,952 shares valued at about $6.63 million.
• Other institutions also added to their positions, while insiders sold shares: director Walter C. Rakowich and EVP Mark Kidd both executed pre-arranged sales, and insiders sold 137,260 shares over the past three months.
• Analysts remain constructive on Iron Mountain, with a Moderate Buy consensus and an average price target of $134.33. The company also beat quarterly earnings and revenue estimates and declared a $0.864 quarterly dividend, implying a 3.0% yield.

QRG Capital Management Inc. boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 27.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,952 shares of the financial services provider's stock after acquiring an additional 14,031 shares during the quarter. QRG Capital Management Inc.'s holdings in Iron Mountain were worth $6,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Iron Mountain by 4.5% during the 1st 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 buying an additional 1,286 shares during the period. Empowered Funds LLC raised its stake in shares of Iron Mountain by 10.3% in the first quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 537 shares during the period. Woodline Partners LP lifted its holdings in shares of Iron Mountain by 41.0% in 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 last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Iron Mountain by 29.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider's stock worth $136,000 after purchasing an additional 300 shares during the period. Finally, Cerity Partners LLC grew its holdings in Iron Mountain by 3.6% during the 2nd quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider's stock valued at $3,620,000 after purchasing an additional 1,222 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Activity

In other news, Director Walter C. Rakowich sold 757 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total value of $94,208.65. Following the sale, the director owned 1,135 shares in the company, valued at $141,250.75. This represents a 40.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Monday, June 1st. The stock was sold at an average price of $126.70, for a total value of $760,200.00. Following the sale, the executive vice president directly owned 113,507 shares in the company, valued at $14,381,336.90. This represents a 5.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 137,260 shares of company stock valued at $17,361,672. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Iron Mountain Stock Down 0.0%

Iron Mountain stock opened at $117.13 on Monday. The business has a fifty day moving average of $125.74 and a two-hundred day moving average of $108.38. The firm has a market cap of $34.85 billion, a P/E ratio of 128.71 and a beta of 1.19. 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 posted its earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.10. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The firm's quarterly revenue was up 21.5% compared to the same quarter last year. 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. Equities analysts expect that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be paid a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th. Iron Mountain's dividend payout ratio (DPR) is presently 380.22%.

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.

Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.