DAVENPORT & Co LLC Purchases 735 Shares of Iron Mountain Incorporated (NYSE:IRM)

DAVENPORT & Co LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,466 shares of the financial services provider’s stock after purchasing an additional 735 shares during the period. DAVENPORT & Co LLC’s holdings in Iron Mountain were worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IRM. Czech National Bank grew its holdings in shares of Iron Mountain by 7.0% during the third quarter. Czech National Bank now owns 59,755 shares of the financial services provider’s stock worth $7,101,000 after purchasing an additional 3,896 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Iron Mountain by 27.4% during the third quarter. GAMMA Investing LLC now owns 3,794 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 815 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Iron Mountain by 148.4% during the third quarter. Diversified Trust Co now owns 12,168 shares of the financial services provider’s stock worth $1,446,000 after purchasing an additional 7,270 shares during the last quarter. Fulton Bank N.A. bought a new stake in Iron Mountain in the third quarter valued at approximately $229,000. Finally, City Center Advisors LLC bought a new stake in Iron Mountain in the third quarter valued at approximately $224,000. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold a total of 125,016 shares of company stock worth $13,666,427 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IRM. Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.17.

Iron Mountain Stock Up 0.7 %

Shares of IRM opened at $101.31 on Wednesday. Iron Mountain Incorporated has a 12-month low of $66.20 and a 12-month high of $130.24. The business’s fifty day moving average is $108.43 and its 200 day moving average is $112.67. The stock has a market cap of $29.73 billion, a P/E ratio of 281.42, a P/E/G ratio of 5.58 and a beta of 1.01.

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.