TrueNorth Inc. lessened its stake in Pitney Bowes Inc. (NYSE:PBI) by 50.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,634 shares of the technology company’s stock after selling 61,813 shares during the quarter. TrueNorth Inc.’s holdings in Pitney Bowes were worth $678,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PBI. Meeder Asset Management Inc. boosted its position in shares of Pitney Bowes by 23.1% during the third quarter. Meeder Asset Management Inc. now owns 64,824 shares of the technology company’s stock worth $909,000 after buying an additional 12,180 shares during the period. Gotham Asset Management LLC boosted its holdings in Pitney Bowes by 50.0% in the second quarter. Gotham Asset Management LLC now owns 398,026 shares of the technology company’s stock valued at $6,010,000 after purchasing an additional 132,684 shares during the period. Vident Investment Advisory LLC purchased a new position in Pitney Bowes in the third quarter valued at $472,000. Steward Partners Investment Advisory LLC purchased a new position in Pitney Bowes in the third quarter valued at $467,000. Finally, FMR LLC boosted its holdings in Pitney Bowes by 140.9% in the second quarter. FMR LLC now owns 125,267 shares of the technology company’s stock valued at $1,892,000 after purchasing an additional 73,260 shares during the period. 70.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Pitney Bowes Inc. (NYSE PBI) traded up $0.10 on Wednesday, reaching $12.36. The company’s stock had a trading volume of 1,831,853 shares, compared to its average volume of 2,491,051. Pitney Bowes Inc. has a 12 month low of $9.50 and a 12 month high of $16.25. The stock has a market cap of $2,296.76, a price-to-earnings ratio of 8.74 and a beta of 1.05. The company has a debt-to-equity ratio of 18.34, a current ratio of 1.28 and a quick ratio of 1.24.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Pitney Bowes had a return on equity of 379.85% and a net margin of 7.36%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. equities analysts predict that Pitney Bowes Inc. will post 1.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, February 15th. This represents a $0.75 annualized dividend and a yield of 6.07%. Pitney Bowes’s dividend payout ratio (DPR) is presently 53.57%.
A number of analysts have weighed in on the company. Loop Capital cut their price target on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Pitney Bowes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 8th. Finally, ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Pitney Bowes has an average rating of “Hold” and a consensus target price of $14.50.
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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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