Congress Wealth Management LLC DE Reduces Stake in Iron Mountain Incorporated (NYSE:IRM)

Congress Wealth Management LLC DE decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 39.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,906 shares of the financial services provider’s stock after selling 21,401 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Iron Mountain were worth $3,459,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stevens Capital Management LP lifted its position in shares of Iron Mountain by 102.7% in the 4th quarter. Stevens Capital Management LP now owns 3,564 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 1,806 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Iron Mountain during the fourth quarter valued at $10,278,000. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Iron Mountain by 5.5% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 191,305 shares of the financial services provider’s stock valued at $20,108,000 after purchasing an additional 9,951 shares during the period. Mizuho Securities USA LLC raised its position in Iron Mountain by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 27,813 shares of the financial services provider’s stock worth $2,923,000 after buying an additional 8,792 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Iron Mountain by 820.8% during the fourth quarter. Quantbot Technologies LP now owns 45,922 shares of the financial services provider’s stock valued at $4,827,000 after purchasing an additional 40,935 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Barclays lowered their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company reduced their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain currently has an average rating of “Buy” and an average target price of $125.67.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $86.96 on Thursday. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The stock has a market capitalization of $25.54 billion, a PE ratio of 142.55, a P/E/G ratio of 5.15 and a beta of 1.04. The company’s 50-day simple moving average is $95.94 and its 200-day simple moving average is $108.73.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.61%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is presently 514.75%.

Iron Mountain Profile

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.