Thompson Davis & CO. Inc. Increases Stock Position in Pitney Bowes Inc. $PBI

Thompson Davis & CO. Inc. lifted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 61.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,044 shares of the technology company’s stock after purchasing an additional 8,361 shares during the period. Thompson Davis & CO. Inc.’s holdings in Pitney Bowes were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PBI. Quantbot Technologies LP acquired a new position in Pitney Bowes during the first quarter worth $36,000. United Services Automobile Association purchased a new stake in shares of Pitney Bowes during the 1st quarter worth $96,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Pitney Bowes during the 1st quarter worth $98,000. Truist Financial Corp acquired a new position in shares of Pitney Bowes during the 2nd quarter worth $123,000. Finally, American National Bank & Trust purchased a new position in shares of Pitney Bowes in the 2nd quarter valued at about $131,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on PBI shares. Weiss Ratings upgraded shares of Pitney Bowes from a “sell (d)” rating to a “hold (c)” rating in a research note on Friday, November 7th. The Goldman Sachs Group began coverage on shares of Pitney Bowes in a research report on Monday, November 3rd. They set a “neutral” rating and a $11.00 price target for the company. Finally, Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.00.

Insider Buying and Selling

In related news, Director Brent D. Rosenthal acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was purchased at an average price of $11.97 per share, for a total transaction of $35,910.00. Following the transaction, the director owned 3,000 shares in the company, valued at $35,910. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.00% of the company’s stock.

Pitney Bowes Trading Down 1.0%

NYSE:PBI opened at $9.26 on Friday. The company has a market capitalization of $1.49 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 0.57 and a beta of 1.27. The firm has a 50-day moving average price of $11.05 and a two-hundred day moving average price of $10.88. Pitney Bowes Inc. has a twelve month low of $6.88 and a twelve month high of $13.11.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Pitney Bowes had a net margin of 4.14% and a negative return on equity of 40.31%. The business had revenue of $459.68 million during the quarter, compared to analyst estimates of $467.45 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. On average, equities research analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 10th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 3.9%. Pitney Bowes’s dividend payout ratio (DPR) is 80.00%.

Pitney Bowes announced that its board has initiated a stock buyback program on Wednesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 18.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Pitney Bowes

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.