Robeco Institutional Asset Management B.V. grew its stake in Pitney Bowes Inc. (NYSE:PBI) by 113.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 868,532 shares of the technology company’s stock after buying an additional 461,740 shares during the period. Robeco Institutional Asset Management B.V. owned 0.47% of Pitney Bowes worth $12,166,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of PBI. UBS Asset Management Americas Inc. raised its holdings in shares of Pitney Bowes by 19.9% in the first quarter. UBS Asset Management Americas Inc. now owns 183,502 shares of the technology company’s stock worth $2,406,000 after buying an additional 30,516 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Pitney Bowes by 165.4% in the first quarter. Principal Financial Group Inc. now owns 764,950 shares of the technology company’s stock worth $10,028,000 after buying an additional 476,707 shares during the last quarter. Royce & Associates LP purchased a new position in shares of Pitney Bowes in the first quarter worth $1,641,000. Legal & General Group Plc raised its holdings in shares of Pitney Bowes by 14.5% in the first quarter. Legal & General Group Plc now owns 307,482 shares of the technology company’s stock worth $4,031,000 after buying an additional 38,896 shares during the last quarter. Finally, Thrivent Financial For Lutherans purchased a new position in shares of Pitney Bowes in the first quarter worth $455,000. 77.34% of the stock is owned by institutional investors and hedge funds.
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Pitney Bowes Inc. (NYSE:PBI) traded down $0.18 during trading hours on Friday, hitting $10.37. 4,293,100 shares of the stock were exchanged, compared to its average volume of 2,691,304. The firm has a market capitalization of $1,969.98, a price-to-earnings ratio of 6.81 and a beta of 1.25. Pitney Bowes Inc. has a 1 year low of $10.22 and a 1 year high of $16.60. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.42 and a quick ratio of 1.37.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.10). The business had revenue of $842.82 million during the quarter, compared to analyst estimates of $837.60 million. Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. equities research analysts forecast that Pitney Bowes Inc. will post 1.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 7.23%. Pitney Bowes’s dividend payout ratio is presently 156.25%.
A number of research analysts have issued reports on PBI shares. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Cross Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Loop Capital started coverage on shares of Pitney Bowes in a research note on Friday, July 28th. They issued a “hold” rating and a $16.00 price objective on the stock. Finally, ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Pitney Bowes presently has an average rating of “Hold” and an average target price of $14.50.
Pitney Bowes 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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