Brant Point Investment Management LLC Takes Position in Pitney Bowes Inc. $PBI

Key Points

• Brant Point Investment Management LLC acquired 59,270 shares of Pitney Bowes Inc., valued at approximately $536,000, indicating renewed interest in the company from institutional investors.
• Pitney Bowes has recently declared a quarterly dividend of $0.08 per share, increasing from the previous $0.07, reflecting a dividend yield of 2.6%.
• The company reported earnings per share of $0.27 for the last quarter, matching analysts' expectations, but its revenue of $461.91 million fell short of the anticipated $475.92 million.

Brant Point Investment Management LLC acquired a new stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,270 shares of the technology company's stock, valued at approximately $536,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Pitney Bowes during the 1st quarter worth approximately $36,000. KBC Group NV acquired a new stake in shares of Pitney Bowes during the 1st quarter worth approximately $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Pitney Bowes during the 1st quarter worth approximately $98,000. PharVision Advisers LLC acquired a new stake in shares of Pitney Bowes during the 4th quarter worth approximately $107,000. Finally, PFG Investments LLC raised its position in shares of Pitney Bowes by 14.6% during the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after purchasing an additional 1,644 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on PBI shares. Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Sidoti upgraded Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Pitney Bowes presently has a consensus rating of "Hold".

Pitney Bowes Stock Up 0.8%

NYSE PBI traded up $0.10 on Monday, reaching $12.14. 2,044,690 shares of the stock traded hands, compared to its average volume of 3,809,657. The firm's fifty day simple moving average is $11.51 and its 200 day simple moving average is $10.18. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -20.23, a P/E/G ratio of 0.62 and a beta of 1.29. Pitney Bowes Inc. has a 12 month low of $6.22 and a 12 month high of $13.11.

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

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 2.6%. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. Pitney Bowes's dividend payout ratio is -53.33%.

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

Insider Buying and Selling at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the sale, the executive vice president directly owned 115,405 shares of the company's stock, valued at $1,401,016.70. This trade represents a 23.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.00% of the stock is currently owned by corporate insiders.

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.