Brent Rosenthal Buys 2,000 Shares of Pitney Bowes (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) Director Brent Rosenthal bought 2,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were acquired at an average price of $10.00 per share, for a total transaction of $20,000.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $50,000. This represents a 66.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Pitney Bowes Stock Performance

Shares of PBI stock traded up $0.19 during trading on Tuesday, hitting $9.91. The company had a trading volume of 2,147,460 shares, compared to its average volume of 2,711,139. The firm has a market capitalization of $1.59 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 0.57 and a beta of 1.27. Pitney Bowes Inc. has a one year low of $6.88 and a one year high of $13.11. The stock’s 50-day moving average price is $10.71 and its 200 day moving average price is $10.93.

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

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

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 10th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.6%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, November 10th. Pitney Bowes’s payout ratio is presently 80.00%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PBI. Wall Street Zen downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. The Goldman Sachs Group started coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They issued a “neutral” rating and a $11.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a research note on Wednesday, November 19th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Pitney Bowes currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Institutional Trading of Pitney Bowes

A number of hedge funds have recently added to or reduced their stakes in PBI. Quantbot Technologies LP acquired a new position in shares of Pitney Bowes during the first quarter worth $36,000. EverSource Wealth Advisors LLC grew its position in Pitney Bowes by 41.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,015 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Pitney Bowes during the 2nd quarter worth $51,000. Canada Pension Plan Investment Board acquired a new position in Pitney Bowes in the 2nd quarter worth about $51,000. Finally, United Services Automobile Association bought a new position in Pitney Bowes in the first quarter valued at about $96,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.