Schwab Charles Investment Management Inc. lowered its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 23.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 778,895 shares of the technology company’s stock after selling 234,595 shares during the period. Schwab Charles Investment Management Inc. owned about 0.42% of Pitney Bowes worth $10,212,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock valued at $146,000 after buying an additional 500 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Pitney Bowes during the first quarter valued at approximately $149,000. Fox Run Management L.L.C. purchased a new stake in shares of Pitney Bowes during the first quarter valued at approximately $159,000. Kentucky Retirement Systems purchased a new stake in shares of Pitney Bowes during the fourth quarter valued at approximately $205,000. Finally, Searle & CO. purchased a new stake in shares of Pitney Bowes during the first quarter valued at approximately $210,000. 76.98% of the stock is currently owned by institutional investors.
Pitney Bowes Inc. (PBI) traded up 0.47% on Friday, reaching $12.74. 1,393,549 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $14.41 and its 200 day moving average price is $14.15. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $19.10. The firm has a market capitalization of $2.38 billion, a PE ratio of 25.03 and a beta of 1.17.
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 the Thomson Reuters’ consensus estimate of $0.36 by $0.03. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The business had revenue of $821.40 million during the quarter, compared to analyst estimates of $822.90 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts predict that Pitney Bowes Inc. will post $1.68 EPS for the current fiscal year.
The firm 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 annualized dividend and a yield of 5.89%. Pitney Bowes’s dividend payout ratio is currently 144.23%.
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Several brokerages recently commented on PBI. Sidoti cut Pitney Bowes from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Loop Capital began coverage on Pitney Bowes in a report on Friday, July 28th. They set a “hold” rating and a $16.00 target price on the stock. Finally, Cross Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Pitney Bowes presently has an average rating of “Hold” and a consensus price target of $17.50.
About Pitney Bowes
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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