280,000 Shares in Pitney Bowes Inc. $PBI Acquired by III Capital Management

III Capital Management bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 280,000 shares of the technology company’s stock, valued at approximately $2,960,000. Pitney Bowes accounts for approximately 0.4% of III Capital Management’s holdings, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 buying an additional 1,015 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Pitney Bowes by 190.9% during the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock worth $40,000 after buying an additional 2,459 shares during the period. UMB Bank n.a. lifted its position in shares of Pitney Bowes by 404.6% during the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock worth $43,000 after buying an additional 3,225 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Pitney Bowes during the 2nd quarter worth approximately $51,000. Finally, Copeland Capital Management LLC bought a new position in shares of Pitney Bowes during the 4th quarter worth approximately $65,000. Institutional investors own 67.88% of the company’s stock.

Insider Buying and Selling at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 18,750 shares of Pitney Bowes stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.06, for a total value of $301,125.00. Following the completion of the sale, the executive vice president directly owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kurt James Wolf sold 322,829 shares of Pitney Bowes stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.40, for a total value of $5,617,224.60. Following the completion of the sale, the chief executive officer directly owned 264,922 shares of the company’s stock, valued at $4,609,642.80. This trade represents a 54.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,030,097 shares of company stock valued at $46,661,100 over the last three months. Insiders own 6.50% of the company’s stock.

Pitney Bowes Stock Performance

NYSE PBI opened at $17.40 on Thursday. The stock has a fifty day moving average of $15.18 and a 200-day moving average of $12.12. The stock has a market capitalization of $2.36 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 0.79 and a beta of 1.63. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $17.77.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $477.41 million during the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. Equities research analysts forecast that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is 38.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PBI shares. Zacks Research raised Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Citizens Jmp raised their price target on Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a report on Friday, June 5th. The Goldman Sachs Group set a $15.20 price target on Pitney Bowes in a report on Friday, May 8th. Finally, Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Pitney Bowes presently has an average rating of “Moderate Buy” and a consensus price target of $16.43.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.