Texas Permanent School Fund reduced its stake in Pitney Bowes Inc. (NYSE:PBI) by 6.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 57,156 shares of the company’s stock after selling 4,040 shares during the period. Texas Permanent School Fund’s holdings in Pitney Bowes were worth $1,038,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Americafirst Capital Management LLC bought a new position in Pitney Bowes during the second quarter valued at $111,000. Assetmark Inc. boosted its position in Pitney Bowes by 55,857.1% in the second quarter. Assetmark Inc. now owns 7,834 shares of the company’s stock valued at $139,000 after buying an additional 7,820 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in Pitney Bowes during the second quarter valued at $185,000. Bank of The West bought a new position in Pitney Bowes during the third quarter valued at $187,000. Finally, Euclid Advisors LLC bought a new position in Pitney Bowes during the first quarter valued at $190,000. Institutional investors own 81.15% of the company’s stock.
Shares of Pitney Bowes Inc. (NYSE:PBI) traded down 0.27% during mid-day trading on Friday, reaching $14.86. The company’s stock had a trading volume of 1,118,273 shares. The stock has a market capitalization of $2.76 billion, a P/E ratio of 10.82 and a beta of 1.45. Pitney Bowes Inc. has a 12-month low of $14.22 and a 12-month high of $21.81. The company’s 50-day moving average price is $16.06 and its 200-day moving average price is $17.71.
Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.02. Pitney Bowes had a net margin of 8.02% and a return on equity of 256.96%. The company had revenue of $839 million for the quarter, compared to analysts’ expectations of $851.82 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities research analysts forecast that Pitney Bowes Inc. will post $1.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 21st will be given a dividend of $0.1875 per share. The ex-dividend date is Thursday, November 17th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.05%. Pitney Bowes’s payout ratio is currently 54.74%.
Several research firms recently weighed in on PBI. Brean Capital restated a “buy” rating and issued a $20.00 price objective (down from $24.00) on shares of Pitney Bowes in a research report on Wednesday, November 2nd. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Friday, September 2nd. Finally, TheStreet lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st.
In other Pitney Bowes news, EVP Robert Guidotti bought 3,405 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were bought at an average price of $14.70 per share, with a total value of $50,053.50. Following the purchase, the executive vice president now owns 3,405 shares of the company’s stock, valued at $50,053.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc Bradley Lautenbach bought 4,739 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were acquired at an average cost of $14.76 per share, for a total transaction of $69,947.64. Following the purchase, the insider now directly owns 80,937 shares in the company, valued at approximately $1,194,630.12. The disclosure for this purchase can be found here. Insiders own 1.43% of the company’s stock.
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 clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.