PGGM Investments Has $171.75 Million Stock Holdings in Iron Mountain Incorporated $IRM

PGGM Investments grew its position in Iron Mountain Incorporated (NYSE:IRM) by 7.6% during the third quarter, HoldingsChannel.com reports. The fund owned 1,684,781 shares of the financial services provider’s stock after acquiring an additional 118,989 shares during the quarter. Iron Mountain comprises 2.8% of PGGM Investments’ investment portfolio, making the stock its 7th biggest position. PGGM Investments’ holdings in Iron Mountain were worth $171,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Continuum Advisory LLC increased its position in Iron Mountain by 5.3% in the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 104 shares during the last quarter. Natural Investments LLC lifted its position in Iron Mountain by 3.1% during the third quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 107 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of Iron Mountain by 0.5% in the 3rd quarter. Merit Financial Group LLC now owns 19,930 shares of the financial services provider’s stock worth $2,032,000 after buying an additional 109 shares in the last quarter. Cooper Financial Group increased its holdings in shares of Iron Mountain by 3.7% in the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock worth $324,000 after buying an additional 113 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its position in shares of Iron Mountain by 2.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 5,700 shares of the financial services provider’s stock valued at $585,000 after buying an additional 128 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

IRM opened at $92.59 on Friday. The stock’s 50 day moving average price is $86.31 and its 200-day moving average price is $94.34. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $112.18. The stock has a market cap of $27.37 billion, a price-to-earnings ratio of 174.71 and a beta of 1.13.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.Iron Mountain’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were paid a dividend of $0.864 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.79. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, December 15th. Iron Mountain’s payout ratio is presently 652.83%.

Analysts Set New Price Targets

IRM has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Barclays reissued an “overweight” rating and set a $126.00 target price on shares of Iron Mountain in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.40.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 7,306 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $100.82, for a total value of $736,590.92. Following the transaction, the executive vice president owned 73,081 shares of the company’s stock, valued at $7,368,026.42. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $83.34, for a total transaction of $5,760,877.50. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 202,038 shares of company stock worth $18,424,270. Company insiders own 1.90% of the company’s stock.

Iron Mountain Profile

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.