Engineers Gate Manager LP Grows Holdings in Pitney Bowes Inc. $PBI

Key Points

• Engineers Gate Manager LP increased its Pitney Bowes position by 474.9% in the second quarter, owning 163,860 shares valued at approximately $2.87 million. Institutional investors collectively hold 67.88% of the company.
• Pitney Bowes insiders have been significant sellers, including CEO Kurt Wolf, who sold 430,443 shares for about $7.85 million. Insiders sold 1.63 million shares worth roughly $28.9 million over the past 90 days.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and an average price target of $18.45. The company exceeded quarterly EPS expectations, reporting $0.43 versus the $0.34 consensus, despite a 2.4% year-over-year revenue decline.

Engineers Gate Manager LP boosted its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 474.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,860 shares of the technology company's stock after acquiring an additional 135,357 shares during the quarter. Engineers Gate Manager LP owned 0.12% of Pitney Bowes worth $2,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PBI. Royal Bank of Canada lifted its stake in Pitney Bowes by 133.1% during the first quarter. Royal Bank of Canada now owns 52,958 shares of the technology company's stock worth $478,000 after purchasing an additional 30,238 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Pitney Bowes by 5.6% during the 1st 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 in the last quarter. United Services Automobile Association purchased a new position in shares of Pitney Bowes during the 1st quarter valued at about $96,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Pitney Bowes by 18.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,488 shares of the technology company's stock worth $4,258,000 after buying an additional 72,437 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in Pitney Bowes by 15.5% in the first quarter. Intech Investment Management LLC now owns 195,309 shares of the technology company's stock worth $1,768,000 after buying an additional 26,260 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company's stock.

Insiders Place Their Bets

In other news, EVP Todd Everett sold 25,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $18.07, for a total value of $451,750.00. Following the completion of the sale, the executive vice president directly owned 96,048 shares of the company's stock, valued at approximately $1,735,587.36. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kurt Wolf sold 430,443 shares of Pitney Bowes stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $18.23, for a total transaction of $7,846,975.89. Following the sale, the chief executive officer directly owned 179,190 shares in the company, valued at $3,266,633.70. The trade was a 70.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,634,650 shares of company stock worth $28,919,230. 6.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

PBI has been the topic of several research reports. Truist Financial lifted their price target on shares of Pitney Bowes from $15.00 to $18.00 and gave the stock a "hold" rating in a research note on Friday, July 31st. Zacks Research raised shares of Pitney Bowes from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Citizens Jmp lifted their target price on shares of Pitney Bowes from $19.00 to $22.00 and gave the stock a "market outperform" rating in a research report on Friday, July 31st. Citigroup reissued a "market outperform" rating on shares of Pitney Bowes in a research note on Friday, July 31st. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $17.30 price objective on shares of Pitney Bowes in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.45.

Pitney Bowes Price Performance

Shares of NYSE:PBI opened at $17.05 on Monday. Pitney Bowes Inc. has a 1 year low of $8.95 and a 1 year high of $19.07. The company has a market cap of $2.34 billion, a PE ratio of 13.98, a P/E/G ratio of 0.68 and a beta of 1.64. The stock's 50-day moving average is $17.39 and its 200 day moving average is $15.18.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.09. Pitney Bowes had a negative return on equity of 31.37% and a net margin of 10.04%.The business had revenue of $451.50 million during the quarter, compared to analysts' expectations of $453.94 million. During the same quarter last year, the business posted $0.27 EPS. The business's revenue was down 2.4% on a year-over-year basis. Pitney Bowes has set its FY 2026 guidance at 1.550-1.700 EPS. Analysts expect that Pitney Bowes Inc. will post 1.68 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 10th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, August 10th. Pitney Bowes's payout ratio is presently 32.79%.

About Pitney Bowes

Pitney Bowes Inc NYSE: PBI is a global technology, shipping and mailing company that provides solutions for businesses managing physical and digital communications, parcels and mail. Its offerings include mailing and shipping equipment, software, supplies, services and financing options designed to help organizations process, track and deliver items.

The company operates through businesses focused on shipping and mailing technology and presort services. Its products and services include postage meters and other mailroom equipment, cloud-based shipping and mailing software, parcel management tools, address and data services, and outsourced mail processing.

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