California State Teachers Retirement System Sells 11,234 Shares of Iron Mountain Incorporated $IRM

California State Teachers Retirement System trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 422,871 shares of the financial services provider’s stock after selling 11,234 shares during the quarter. California State Teachers Retirement System’s holdings in Iron Mountain were worth $43,192,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of Iron Mountain by 9.7% during the first quarter. Royal Bank of Canada now owns 1,410,720 shares of the financial services provider’s stock valued at $144,090,000 after purchasing an additional 124,849 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Iron Mountain by 198.8% in the first quarter. Empowered Funds LLC now owns 23,082 shares of the financial services provider’s stock worth $2,358,000 after purchasing an additional 15,357 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Iron Mountain by 92.7% in the first quarter. Quantinno Capital Management LP now owns 322,017 shares of the financial services provider’s stock worth $32,891,000 after buying an additional 154,910 shares in the last quarter. BROOKFIELD Corp ON boosted its stake in Iron Mountain by 31.4% during the first quarter. BROOKFIELD Corp ON now owns 188,255 shares of the financial services provider’s stock valued at $19,228,000 after buying an additional 44,935 shares during the last quarter. Finally, Cardiff Park Advisors LLC bought a new position in Iron Mountain during the first quarter valued at approximately $278,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial set a $140.00 price target on shares of Iron Mountain in a research note on Friday, May 1st. Barclays lifted their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.33.

Insider Activity

In other Iron Mountain news, Director Walter C. Rakowich sold 757 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total transaction of $94,208.65. Following the sale, the director directly owned 1,135 shares of the company’s stock, valued at approximately $141,250.75. This trade represents a 40.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $126.70, for a total transaction of $760,200.00. Following the completion of the transaction, the executive vice president owned 113,507 shares of the company’s stock, valued at approximately $14,381,336.90. This represents a 5.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 137,260 shares of company stock valued at $17,361,672. 1.70% of the stock is owned by insiders.

Iron Mountain Stock Performance

NYSE:IRM opened at $122.21 on Friday. The firm has a 50-day simple moving average of $125.17 and a 200-day simple moving average of $113.76. Iron Mountain Incorporated has a one year low of $77.77 and a one year high of $134.68. The firm has a market cap of $36.36 billion, a P/E ratio of 134.30 and a beta of 1.19.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. Iron Mountain’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. On average, research analysts predict that Iron Mountain Incorporated will post 5.4 EPS for the current fiscal year.

About Iron Mountain

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.