QRG Capital Management Inc. Boosts Holdings in Iron Mountain Incorporated $IRM

QRG Capital Management Inc. lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 27.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,952 shares of the financial services provider’s stock after purchasing an additional 14,031 shares during the period. QRG Capital Management Inc.’s holdings in Iron Mountain were worth $6,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cohen & Steers Inc. boosted its holdings in Iron Mountain by 20.0% in the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock worth $1,568,110,000 after buying an additional 3,155,034 shares during the last quarter. State Street Corp raised its holdings in shares of Iron Mountain by 1.9% during the third quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock valued at $1,759,494,000 after acquiring an additional 322,144 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Iron Mountain by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock valued at $685,374,000 after acquiring an additional 102,073 shares during the last quarter. Invesco Ltd. lifted its position in shares of Iron Mountain by 18.1% in the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after acquiring an additional 776,933 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Iron Mountain in the fourth quarter worth approximately $368,890,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

IRM has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Truist Financial set a $140.00 target price on shares of Iron Mountain in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of Iron Mountain from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings raised shares of Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.33.

Iron Mountain Stock Down 0.0%

NYSE:IRM opened at $117.13 on Monday. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The stock’s fifty day moving average is $125.74 and its two-hundred day moving average is $108.38. The company has a market capitalization of $34.85 billion, a P/E ratio of 128.71 and a beta of 1.19.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. Sell-side analysts anticipate that Iron Mountain Incorporated will post 5.4 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be issued a $0.864 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a yield of 3.0%. Iron Mountain’s dividend payout ratio (DPR) is 380.22%.

Insider Transactions at Iron Mountain

In other news, Director Pamela M. Arway sold 1,892 shares of Iron Mountain stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $128.97, for a total value of $244,011.24. Following the completion of the transaction, the director owned 40,196 shares in the company, valued at approximately $5,184,078.12. This trade represents a 4.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of Iron Mountain stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total transaction of $94,208.65. Following the completion of the transaction, the director owned 1,135 shares of the company’s stock, valued at $141,250.75. This represents a 40.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,260 shares of company stock valued at $17,361,672 in the last 90 days. Insiders own 1.70% of the company’s stock.

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.