Caxton Associates LLP Makes New Investment in Pitney Bowes Inc. $PBI

Key Points

• Caxton Associates LLP has made a new investment of approximately $1.70 million in Pitney Bowes Inc. by acquiring 187,479 shares, increasing its ownership to 0.10% of the company.
• Pitney Bowes recently reported earnings of $0.27 per share, meeting consensus estimates, but experienced a 5.7% year-over-year decline in revenue.
• The company has announced a quarterly dividend increase to $0.08 per share, representing an annualized yield of 2.5%, and authorized a share repurchase plan of $400 million.

Caxton Associates LLP purchased a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 187,479 shares of the technology company's stock, valued at approximately $1,697,000. Caxton Associates LLP owned 0.10% of Pitney Bowes at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Pitney Bowes by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,424 shares of the technology company's stock valued at $882,000 after buying an additional 5,149 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Pitney Bowes in the 1st quarter valued at about $679,000. Bosun Asset Management LLC acquired a new position in Pitney Bowes during the 1st quarter valued at about $347,000. AQR Capital Management LLC increased its holdings in Pitney Bowes by 2,074.5% during the 1st quarter. AQR Capital Management LLC now owns 728,483 shares of the technology company's stock worth $6,593,000 after purchasing an additional 694,982 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in Pitney Bowes during the 1st quarter worth approximately $11,032,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Pitney Bowes currently has an average rating of "Hold".

Pitney Bowes Stock Performance

Shares of Pitney Bowes stock traded down $0.03 during mid-day trading on Friday, hitting $11.41. 2,020,331 shares of the stock were exchanged, compared to its average volume of 3,053,311. Pitney Bowes Inc. has a 12 month low of $6.61 and a 12 month high of $13.11. The company has a 50-day simple moving average of $11.70 and a 200 day simple moving average of $10.27. The company has a market capitalization of $1.96 billion, a P/E ratio of -19.01, a P/E/G ratio of 0.59 and a beta of 1.29.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings results 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 return on equity of 38.01% and a negative net margin of 5.60%.The company had revenue of $461.91 million during the quarter, compared to the consensus estimate of $475.92 million. During the same period last year, the business posted $0.03 earnings per share. Pitney Bowes's 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. Analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors 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 annualized dividend and a yield of 2.8%. Pitney Bowes's dividend payout ratio (DPR) is currently -53.33%.

Pitney Bowes announced that its board has initiated a share buyback program on Wednesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to purchase up to 18.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Pitney Bowes

In related news, Director Brent D. Rosenthal acquired 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average price of $11.97 per share, for a total transaction of $35,910.00. Following the completion of the acquisition, the director owned 3,000 shares of the company's stock, valued at approximately $35,910. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were 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 of the company's stock, valued at $1,401,016.70. This represents a 23.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.00% of the company's stock.

Pitney Bowes Company Profile

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.