BROOKFIELD Corp ON Has $1.17 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

BROOKFIELD Corp ON cut its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 35.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,124 shares of the financial services provider's stock after selling 6,181 shares during the quarter. BROOKFIELD Corp ON's holdings in Iron Mountain were worth $1,169,000 at the end of the most recent reporting period.

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A number of other institutional investors have also made changes to their positions in the business. Key Financial Inc boosted its position in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain in the 4th quarter valued at $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the 4th quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. grew its position in Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after purchasing an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Iron Mountain during the fourth quarter valued at about $53,000. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value 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 represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,848 shares of company stock worth $22,470,124 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

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A number of equities research analysts recently weighed in on IRM shares. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. 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. Finally, StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $121.29.

View Our Latest Report on IRM

Iron Mountain Stock Performance

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Shares of NYSE:IRM opened at $97.18 on Tuesday. The company has a market capitalization of $28.66 billion, a PE ratio of 159.31, a P/E/G ratio of 5.15 and a beta of 1.08. The company's fifty day moving average is $86.01 and its 200-day moving average is $101.74. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.16 by $0.01. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $1.10 EPS. Iron Mountain's revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.23%. Iron Mountain's dividend payout ratio is 765.85%.

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.

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