Tocqueville Asset Management L.P. cut its holdings in Pitney Bowes (NYSE:PBI) by 91.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,800 shares of the technology company’s stock after selling 627,751 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Pitney Bowes were worth $691,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in PBI. Itau Unibanco Holding S.A. increased its stake in shares of Pitney Bowes by 88.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 9,943 shares of the technology company’s stock worth $111,000 after purchasing an additional 4,664 shares in the last quarter. Timber Hill LLC purchased a new stake in shares of Pitney Bowes in the 4th quarter worth $116,000. State of Alaska Department of Revenue purchased a new stake in shares of Pitney Bowes in the 4th quarter worth $120,000. NEXT Financial Group Inc increased its stake in shares of Pitney Bowes by 2,155.1% in the 4th quarter. NEXT Financial Group Inc now owns 11,005 shares of the technology company’s stock worth $123,000 after purchasing an additional 10,517 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Pitney Bowes in the 4th quarter worth $151,000. 75.60% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Pitney Bowes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 8th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.50.
Shares of Pitney Bowes (NYSE PBI) traded down $0.08 during mid-day trading on Tuesday, reaching $12.21. The company’s stock had a trading volume of 183,744 shares, compared to its average volume of 2,256,100. Pitney Bowes has a 1-year low of $9.50 and a 1-year high of $16.25. The company has a debt-to-equity ratio of 18.92, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a market cap of $2,321.67, a price-to-earnings ratio of 8.71 and a beta of 1.12.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Pitney Bowes’s revenue for the quarter was up 18.3% compared to the same quarter last year. equities analysts anticipate that Pitney Bowes will post 1.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 6.14%. The ex-dividend date was Thursday, February 15th. Pitney Bowes’s dividend payout ratio (DPR) is presently 53.57%.
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Pitney Bowes Profile
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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