Shell Asset Management Co. maintained its stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,799 shares of the technology company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Pitney Bowes were worth $1,069,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Pitney Bowes by 9,828.4% in the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock worth $277,037,000 after buying an additional 20,918,761 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of Pitney Bowes during the first quarter worth approximately $50,988,000. Breton Hill Capital Ltd. raised its stake in shares of Pitney Bowes by 212.7% in the first quarter. Breton Hill Capital Ltd. now owns 645,642 shares of the technology company’s stock worth $8,464,000 after buying an additional 1,218,637 shares during the last quarter. KBC Group NV acquired a new stake in shares of Pitney Bowes during the first quarter worth approximately $12,503,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Pitney Bowes during the first quarter worth approximately $11,818,000. 77.12% of the stock is owned by institutional investors.
Pitney Bowes Inc. (NYSE:PBI) opened at 13.16 on Tuesday. The firm’s 50-day moving average price is $15.30 and its 200 day moving average price is $14.40. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 25.85 and a beta of 1.17. Pitney Bowes Inc. has a 12 month low of $12.31 and a 12 month high of $19.10.
Pitney Bowes (NYSE:PBI) last issued its earnings results 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 return on equity of 15,666.66% and a net margin of 3.02%. The firm had revenue of $821.40 million during the quarter, compared to analysts’ expectations of $822.90 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. Pitney Bowes’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts anticipate that Pitney Bowes Inc. will post $1.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend is Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio is 144.23%.
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PBI has been the subject of a number of research analyst reports. Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Sidoti lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. Finally, ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.50.
In other news, Director Linda S. Sanford bought 5,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was acquired at an average cost of $15.09 per share, for a total transaction of $75,450.00. Following the acquisition, the director now owns 18,690 shares of the company’s stock, valued at $282,032.10. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.01% of the stock is currently owned by corporate insiders.
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 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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