WealthBridge Capital Management LLC Sells 4,829 Shares of Iron Mountain Incorporated (NYSE:IRM)

WealthBridge Capital Management LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 36.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,352 shares of the financial services provider's stock after selling 4,829 shares during the quarter. WealthBridge Capital Management LLC's holdings in Iron Mountain were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter worth $26,000. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain in the fourth quarter worth $26,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain in the first quarter worth $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Iron Mountain in the first quarter worth $30,000. Finally, Franchise Capital Ltd acquired a new stake in shares of Iron Mountain in the first quarter worth $39,000. Institutional investors own 80.13% of the company's stock.

Insiders Place Their Bets

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total transaction of $807,383.72. Following the sale, the executive vice president now owns 70,114 shares in the company, valued at $6,740,759.96. This represents a 10.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the sale, the director now owns 36,515 shares in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,673 shares of company stock valued at $20,319,408 in the last quarter. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. Barclays lifted their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. 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 investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $121.71.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $102.35 on Friday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The company's fifty day moving average is $97.35 and its 200-day moving average is $96.44. The company has a market capitalization of $30.20 billion, a PE ratio of 249.62 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 earnings per share. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

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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