Pitney Bowes Inc. (NYSE:PBI) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 33.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,300 shares of the technology company’s stock after buying an additional 221,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.48% of Pitney Bowes worth $6,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. James J. Burns & Company LLC increased its holdings in shares of Pitney Bowes by 9.7% during the fourth quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock valued at $135,000 after acquiring an additional 1,637 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Pitney Bowes by 11.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,878 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of Pitney Bowes by 10.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after buying an additional 2,020 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Pitney Bowes by 2.7% during the fourth quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company’s stock worth $740,000 after buying an additional 2,711 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after acquiring an additional 2,873 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Stock Down 2.6 %

Shares of NYSE PBI opened at $7.81 on Tuesday. Pitney Bowes Inc. has a 52 week low of $4.04 and a 52 week high of $11.01. The business’s 50 day moving average price is $9.33 and its 200 day moving average price is $8.24. The firm has a market cap of $1.43 billion, a P/E ratio of -6.97, a P/E/G ratio of 0.59 and a beta of 1.89.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. As a group, research analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were paid a dividend of $0.06 per share. The ex-dividend date was Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.07%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s dividend payout ratio (DPR) is presently -21.43%.

Insider Activity

In other Pitney Bowes news, Director Kurt James Wolf sold 1,250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00. Following the completion of the transaction, the director now directly owns 622,250 shares of the company’s stock, valued at approximately $6,010,935. The trade was a 66.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares in the company, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock valued at $19,815,631 in the last quarter. 9.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st.

Pitney Bowes Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.