Envestnet Portfolio Solutions Inc. Has $1.35 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 46.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,833 shares of the financial services provider’s stock after selling 11,164 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Iron Mountain were worth $1,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in IRM. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the 4th quarter valued at $26,000. Key Financial Inc boosted its stake in 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 buying an additional 251 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC lifted its holdings in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Iron Mountain Price Performance

Shares of IRM opened at $87.64 on Friday. The business has a 50-day moving average of $96.89 and a 200-day moving average of $109.22. The company has a market capitalization of $25.74 billion, a price-to-earnings ratio of 143.67, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.58%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 514.75%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the 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 owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,242 shares of company stock valued at $31,530,305. Corporate insiders own 2.10% of the company’s stock.

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.