Carl Domino Inc cut its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 10.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 56,632 shares of the technology company’s stock after selling 6,870 shares during the period. Carl Domino Inc’s holdings in Pitney Bowes were worth $855,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in PBI. BlackRock Inc. boosted its position in shares of Pitney Bowes by 9,828.4% in the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock valued at $277,037,000 after buying an additional 20,918,761 shares in the last quarter. LSV Asset Management boosted its position in shares of Pitney Bowes by 5.4% in the first quarter. LSV Asset Management now owns 4,012,566 shares of the technology company’s stock valued at $52,604,000 after buying an additional 205,000 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in shares of Pitney Bowes during the first quarter valued at $50,988,000. Canada Pension Plan Investment Board boosted its position in shares of Pitney Bowes by 54.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,217,500 shares of the technology company’s stock valued at $29,071,000 after buying an additional 782,900 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Pitney Bowes by 25.1% in the first quarter. Wedge Capital Management L L P NC now owns 1,852,847 shares of the technology company’s stock valued at $24,291,000 after buying an additional 372,115 shares in the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.
Pitney Bowes Inc. (NYSE:PBI) traded up 0.24% during midday trading on Friday, hitting $12.68. The company’s stock had a trading volume of 1,119,986 shares. The company has a market cap of $2.37 billion, a PE ratio of 24.91 and a beta of 1.17. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $19.10. The stock has a 50 day moving average of $14.77 and a 200 day moving average of $14.26.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The firm had revenue of $821.40 million during the quarter, compared to analysts’ expectations of $822.90 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Pitney Bowes’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that Pitney Bowes Inc. will post $1.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be issued a $0.1875 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.75 dividend on an annualized basis and a yield of 5.91%. Pitney Bowes’s payout ratio is currently 144.23%.
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A number of research firms have recently commented on PBI. Cross Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BidaskClub cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Sidoti raised Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a report on Wednesday, August 2nd. Finally, Loop Capital started coverage on Pitney Bowes in a research report on Friday, July 28th. They set a “hold” rating and a $16.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $17.50.
In related news, Director Linda S. Sanford bought 5,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average cost of $15.09 per share, for a total transaction of $75,450.00. Following the purchase, the director now owns 18,690 shares in the company, valued at $282,032.10. The acquisition was disclosed in a filing with the SEC, which is available through this link. 2.01% of the stock is owned by insiders.
Pitney Bowes Company Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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