Pitney Bowes Inc. $PBI Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

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Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 84.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,064 shares of the technology company's stock after selling 440,676 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Pitney Bowes were worth $716,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PBI. American Assets Inc. boosted its stake in Pitney Bowes by 80.6% during the 4th quarter. American Assets Inc. now owns 130,000 shares of the technology company's stock valued at $941,000 after acquiring an additional 58,000 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Pitney Bowes by 17.0% during the fourth quarter. Wells Fargo & Company MN now owns 126,424 shares of the technology company's stock worth $915,000 after purchasing an additional 18,373 shares during the period. Bank of Montreal Can raised its holdings in shares of Pitney Bowes by 8.6% during the fourth quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock worth $270,000 after purchasing an additional 2,962 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Pitney Bowes during the fourth quarter worth $1,068,000. Finally, Barclays PLC raised its holdings in shares of Pitney Bowes by 14.5% during the fourth quarter. Barclays PLC now owns 317,594 shares of the technology company's stock worth $2,299,000 after purchasing an additional 40,125 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PBI. Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Friday. Sidoti raised shares of Pitney Bowes to a "hold" rating in a report on Monday, May 5th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold".

Pitney Bowes Price Performance

Shares of PBI stock traded up $0.5250 during trading hours on Friday, reaching $11.8250. The stock had a trading volume of 3,271,979 shares, compared to its average volume of 4,137,196. Pitney Bowes Inc. has a twelve month low of $6.22 and a twelve month high of $13.11. The firm has a 50-day simple moving average of $11.32 and a 200-day simple moving average of $10.07. The firm has a market capitalization of $2.04 billion, a PE ratio of -19.71, a price-to-earnings-growth ratio of 0.61 and a beta of 1.54.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 earnings per share for the quarter, hitting 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 business had revenue of $461.91 million for the quarter, compared to analysts' expectations of $475.92 million. During the same quarter last year, the company earned $0.03 EPS. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, equities analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 11th will be issued a $0.08 dividend. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.7%. Pitney Bowes's dividend payout ratio is -53.33%.

Pitney Bowes declared that its board has approved a stock buyback plan on Wednesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 18.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the sale, the executive vice president 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 Securities & Exchange Commission, which is accessible through the SEC website. 9.00% of the stock is currently owned by company 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.