Xact Kapitalforvaltning AB boosted its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 27.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,899 shares of the technology company’s stock after buying an additional 8,300 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Pitney Bowes were worth $230,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jefferies Group LLC raised its position in shares of Pitney Bowes by 178.7% in the 3rd quarter. Jefferies Group LLC now owns 250,798 shares of the technology company’s stock worth $1,776,000 after acquiring an additional 160,798 shares in the last quarter. Morgan Stanley raised its position in shares of Pitney Bowes by 18.2% in the 3rd quarter. Morgan Stanley now owns 1,370,690 shares of the technology company’s stock worth $9,705,000 after acquiring an additional 211,019 shares in the last quarter. SMH Capital Advisors Inc. bought a new position in shares of Pitney Bowes in the 4th quarter worth about $188,000. Paloma Partners Management Co bought a new position in shares of Pitney Bowes in the 3rd quarter worth about $108,000. Finally, MetLife Investment Advisors LLC raised its position in shares of Pitney Bowes by 14.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 234,302 shares of the technology company’s stock worth $1,659,000 after acquiring an additional 29,977 shares in the last quarter. 71.40% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on PBI shares. Zacks Investment Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. Maxim Group set a $12.00 price objective on Pitney Bowes and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, Northcoast Research lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.00.
Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, February 5th. The technology company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Pitney Bowes had a return on equity of 100.78% and a net margin of 6.17%. The business had revenue of $947.10 million during the quarter, compared to analyst estimates of $932.48 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Pitney Bowes Inc. will post 1.13 EPS for the current fiscal year.
Pitney Bowes announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 5th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, February 14th. Pitney Bowes’s payout ratio is 64.66%.
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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