Caxton Associates LLP Boosts Stock Position in Pitney Bowes Inc. $PBI

Key Points

• Caxton Associates LLP increased its Pitney Bowes stake by 58.7% in the first quarter, ending with 281,222 shares valued at about $3.1 million.
• Pitney Bowes reported Q1 earnings in line with expectations, posting EPS of $0.47 and revenue of $477.4 million, though revenue was down 3.2% from a year earlier.
• The company also cut its dividend to $0.01 per quarter, while CEO Kurt James Wolf sold a large block of shares; analysts currently have a mixed view with an average Hold rating.

Caxton Associates LLP boosted its stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 58.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,222 shares of the technology company's stock after acquiring an additional 104,004 shares during the period. Caxton Associates LLP owned 0.21% of Pitney Bowes worth $3,108,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Mizuho Markets Americas LLC increased its position in shares of Pitney Bowes by 1.4% during the first quarter. Mizuho Markets Americas LLC now owns 692,308 shares of the technology company's stock valued at $7,650,000 after buying an additional 9,500 shares during the period. State of Wyoming lifted its holdings in Pitney Bowes by 48.5% in the first quarter. State of Wyoming now owns 58,514 shares of the technology company's stock worth $647,000 after buying an additional 19,123 shares during the period. First Trust Advisors LP lifted its holdings in Pitney Bowes by 12.5% in the first quarter. First Trust Advisors LP now owns 408,325 shares of the technology company's stock worth $4,512,000 after buying an additional 45,275 shares during the period. Dimensional Fund Advisors LP boosted its position in Pitney Bowes by 9.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,331,315 shares of the technology company's stock valued at $25,760,000 after acquiring an additional 193,145 shares in the last quarter. Finally, KBC Group NV boosted its position in Pitney Bowes by 76.6% during the 1st quarter. KBC Group NV now owns 8,013 shares of the technology company's stock valued at $89,000 after acquiring an additional 3,475 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors.

Pitney Bowes Price Performance

Shares of PBI opened at $17.86 on Friday. The firm has a market cap of $2.42 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.80 and a beta of 1.62. Pitney Bowes Inc. has a 1 year low of $8.95 and a 1 year high of $18.77. The company has a 50 day simple moving average of $17.09 and a two-hundred day simple moving average of $13.50.

• Pitney Bowes NYSE: PBI is Surging, Is it Too Risky?

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The firm had revenue of $477.41 million during the quarter, compared to analysts' expectations of $471.83 million. The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. On average, sell-side analysts anticipate that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes's dividend payout ratio (DPR) is presently 38.83%.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, CEO Kurt James Wolf sold 966,561 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total value of $14,092,459.38. Following the completion of the transaction, the chief executive officer directly owned 452,628 shares in the company, valued at approximately $6,599,316.24. The trade was a 68.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 3,349,130 shares of company stock valued at $53,285,535 in the last 90 days. 6.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PBI. Zacks Research lowered Pitney Bowes from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Citigroup reaffirmed a "market outperform" rating on shares of Pitney Bowes in a research note on Tuesday, June 16th. Weiss Ratings upgraded Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 8th. Citizens Jmp raised their price objective on Pitney Bowes from $17.00 to $19.00 and gave the company a "market outperform" rating in a research report on Friday, June 5th. Finally, Wall Street Zen upgraded shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $16.43.

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.

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