Counterpoint Mutual Funds LLC Takes $414,000 Position in Pitney Bowes Inc. $PBI

Key Points

• Counterpoint Mutual Funds LLC recently acquired a new position in Pitney Bowes Inc., purchasing 37,929 shares valued at approximately $414,000.
• The company has announced a quarterly dividend increase from $0.07 to $0.08 per share, leading to an annualized yield of 2.7%.
• Pitney Bowes' stock has seen a 1.5% increase and currently holds a market capitalization of $2.06 billion, despite reporting a revenue decline of 5.7% year-over-year.

Counterpoint Mutual Funds LLC purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 37,929 shares of the technology company's stock, valued at approximately $414,000.

Other large investors have also bought and sold shares of the company. Trail Ridge Investment Advisors LLC bought a new position in Pitney Bowes in the first quarter valued at approximately $267,000. Bank of America Corp DE boosted its position in shares of Pitney Bowes by 43.0% in the 4th quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock worth $6,752,000 after purchasing an additional 280,402 shares during the last quarter. American Assets Inc. grew its stake in shares of Pitney Bowes by 80.6% during the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company's stock worth $941,000 after purchasing an additional 58,000 shares during the period. GAMMA Investing LLC increased its holdings in Pitney Bowes by 1,030.5% in the first quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company's stock valued at $278,000 after purchasing an additional 27,999 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Pitney Bowes by 8.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company's stock valued at $547,000 after buying an additional 4,866 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Trading Up 1.5%

Shares of Pitney Bowes stock opened at $11.97 on Wednesday. The stock's fifty day simple moving average is $11.75 and its 200 day simple moving average is $10.34. The company has a market capitalization of $2.06 billion, a PE ratio of -19.94, a PEG ratio of 0.60 and a beta of 1.29. Pitney Bowes Inc. has a 12 month low of $6.66 and a 12 month high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $461.91 million during the quarter, compared to the consensus estimate of $475.92 million. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The company's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. 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 fiscal year.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were issued a dividend of $0.08 per share. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date was Monday, August 11th. This represents a $0.32 annualized dividend and a yield of 2.7%. Pitney Bowes's dividend payout ratio is -53.33%.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the business's stock in a transaction on 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 directly owned 115,405 shares of the company's stock, valued at approximately $1,401,016.70. The trade was a 23.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brent D. Rosenthal bought 3,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average price of $11.97 per share, with a total value of $35,910.00. Following the acquisition, the director owned 3,000 shares in the company, 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 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.

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