Pitney Bowes Inc. $PBI Stake Raised by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC grew its position in Pitney Bowes Inc. (NYSE:PBI) by 19.1% during the 4th quarter, HoldingsChannel reports. The fund owned 698,354 shares of the technology company’s stock after purchasing an additional 111,936 shares during the period. Pitney Bowes comprises about 3.7% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 10th largest holding. Evergreen Wealth Management LLC’s holdings in Pitney Bowes were worth $7,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PBI. Cannell & Spears LLC raised its stake in shares of Pitney Bowes by 89.5% in the third quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock valued at $38,389,000 after acquiring an additional 1,588,579 shares during the period. LSV Asset Management purchased a new stake in shares of Pitney Bowes in the third quarter worth approximately $13,812,000. Cibc World Market Inc. raised its holdings in shares of Pitney Bowes by 2,724.6% in the third quarter. Cibc World Market Inc. now owns 836,071 shares of the technology company’s stock worth $9,540,000 after buying an additional 806,471 shares during the period. Mizuho Markets Americas LLC purchased a new stake in shares of Pitney Bowes in the third quarter worth approximately $7,683,000. Finally, Invesco Ltd. raised its holdings in shares of Pitney Bowes by 29.5% in the third quarter. Invesco Ltd. now owns 2,622,003 shares of the technology company’s stock worth $29,917,000 after buying an additional 597,938 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, CEO Kurt James Wolf sold 966,561 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the sale, the chief executive officer owned 452,628 shares of the company’s stock, valued at approximately $6,599,316.24. The trade was a 68.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brent D. Rosenthal purchased 4,000 shares of the company’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $10.22 per share, for a total transaction of $40,880.00. Following the purchase, the director owned 9,000 shares in the company, valued at approximately $91,980. The trade was a 80.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 2,456,054 shares of company stock worth $34,864,180. 6.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PBI. Truist Financial increased their price target on Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Citigroup reissued an “outperform” rating on shares of Pitney Bowes in a research report on Friday, April 17th. Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $9.50 to $16.50 in a research report on Monday, May 11th. Citizens Jmp boosted their price objective on shares of Pitney Bowes from $13.00 to $14.00 and gave the company a “market outperform” rating in a research report on Friday, April 17th. Finally, Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Pitney Bowes presently has a consensus rating of “Moderate Buy” and an average target price of $15.18.

Pitney Bowes Stock Performance

NYSE PBI opened at $16.45 on Tuesday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 0.71 and a beta of 1.64. The company’s 50-day simple moving average is $12.63 and its two-hundred day simple moving average is $11.07. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $16.56.

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

Pitney Bowes Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Pitney Bowes’s payout ratio is presently 34.95%.

Pitney Bowes Profile

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.