Bosun Asset Management LLC acquired a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 38,322 shares of the technology company's stock, valued at approximately $347,000.
Other large investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in Pitney Bowes in the 1st quarter worth approximately $36,000. KBC Group NV purchased a new stake in Pitney Bowes during the 1st quarter valued at $65,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Pitney Bowes in the 1st quarter worth about $98,000. PharVision Advisers LLC purchased a new stake in shares of Pitney Bowes in the 4th quarter worth $107,000. Finally, PFG Investments LLC lifted its holdings in shares of Pitney Bowes by 14.6% in the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after buying an additional 1,644 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Pitney Bowes
In related 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 transaction, the executive vice president directly owned 115,405 shares in the company, valued at $1,401,016.70. This trade represents a 23.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brent D. Rosenthal purchased 3,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average cost of $11.97 per share, with a total value of $35,910.00. Following the purchase, the director owned 3,000 shares of the company's stock, valued at approximately $35,910. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 9.00% of the company's stock.
Pitney Bowes Stock Down 3.1%
Pitney Bowes stock traded down $0.37 during mid-day trading on Wednesday, hitting $11.38. The company had a trading volume of 1,612,133 shares, compared to its average volume of 2,691,336. Pitney Bowes Inc. has a 1 year low of $6.22 and a 1 year high of $13.11. The business has a fifty day moving average of $11.70 and a 200 day moving average of $10.26. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -18.91, a PEG ratio of 0.65 and a beta of 1.29.
Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting analysts' consensus estimates of $0.27. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The company had revenue of $461.91 million for the quarter, compared to analyst estimates of $475.92 million. During the same period in the previous year, the business posted $0.03 earnings per share. Pitney Bowes's quarterly revenue was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Equities analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.
Pitney Bowes announced that its board has initiated a stock buyback program on Wednesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 18.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.
Pitney Bowes Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were given a dividend of $0.08 per share. The ex-dividend date was Monday, August 11th. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. Pitney Bowes's dividend payout ratio (DPR) is presently -53.33%.
Wall Street Analyst Weigh In
Separately, Wall Street Zen downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".
Check Out Our Latest Stock Analysis on Pitney Bowes
About Pitney Bowes
(
Free Report)
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.
See Also
Before you consider Pitney Bowes, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pitney Bowes wasn't on the list.
While Pitney Bowes currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
