Crumly & Associates Inc. Sells 2,629 Shares of Pitney Bowes Inc. $PBI

Crumly & Associates Inc. lessened its holdings in Pitney Bowes Inc. (NYSE:PBI) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,295 shares of the technology company’s stock after selling 2,629 shares during the period. Crumly & Associates Inc.’s holdings in Pitney Bowes were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PBI. American Assets Inc. increased its position in Pitney Bowes by 80.6% during the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company’s stock valued at $941,000 after acquiring an additional 58,000 shares during the last quarter. Bank of America Corp DE increased its position in Pitney Bowes by 43.0% during the fourth quarter. Bank of America Corp DE now owns 932,635 shares of the technology company’s stock valued at $6,752,000 after acquiring an additional 280,402 shares during the last quarter. Deutsche Bank AG increased its position in Pitney Bowes by 46.1% during the fourth quarter. Deutsche Bank AG now owns 143,405 shares of the technology company’s stock valued at $1,038,000 after acquiring an additional 45,234 shares during the last quarter. Graham Capital Management L.P. increased its position in Pitney Bowes by 16.2% during the fourth quarter. Graham Capital Management L.P. now owns 77,490 shares of the technology company’s stock valued at $561,000 after acquiring an additional 10,813 shares during the last quarter. Finally, Gotham Asset Management LLC increased its position in Pitney Bowes by 261.9% during the fourth quarter. Gotham Asset Management LLC now owns 90,300 shares of the technology company’s stock valued at $654,000 after acquiring an additional 65,347 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Insider Activity

In other Pitney Bowes news, Director Brent D. Rosenthal bought 3,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were bought at an average cost of $11.97 per share, for a total transaction of $35,910.00. Following the acquisition, the director directly owned 3,000 shares in the company, valued at approximately $35,910. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the transaction, the executive vice president owned 115,405 shares in the company, valued at approximately $1,401,016.70. The trade was a 23.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.00% of the stock is owned by corporate insiders.

Pitney Bowes Trading Down 0.2%

NYSE PBI opened at $11.41 on Friday. The company’s 50-day moving average price is $11.70 and its 200-day moving average price is $10.28. The stock has a market cap of $1.96 billion, a PE ratio of -19.01, a PEG ratio of 0.59 and a beta of 1.29. Pitney Bowes Inc. has a 12 month low of $6.61 and a 12 month high of $13.11.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The firm had revenue of $461.91 million for the quarter, compared to analysts’ expectations of $475.92 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, sell-side analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, August 11th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s dividend payout ratio (DPR) is currently -53.33%.

Pitney Bowes announced that its board has approved a stock buyback plan on Wednesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to purchase up to 18.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Pitney Bowes Company 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.