EntryPoint Capital LLC Purchases 25,022 Shares of Pitney Bowes Inc. $PBI

Key Points

• EntryPoint Capital LLC significantly increased its holdings in Pitney Bowes Inc. by 95.4%, acquiring additional 25,022 shares, bringing their total ownership to 51,251 shares valued at $464,000.
• Pitney Bowes declared a quarterly dividend increase to $0.08 per share, up from the previous $0.07, reflecting a yield of 2.8%.
• The company has initiated a $400 million stock buyback program, indicating management’s belief that the stock is undervalued.

EntryPoint Capital LLC raised its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 95.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,251 shares of the technology company's stock after acquiring an additional 25,022 shares during the period. EntryPoint Capital LLC's holdings in Pitney Bowes were worth $464,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PBI. American Assets Inc. boosted its holdings in Pitney Bowes by 80.6% during the fourth 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 period. Wells Fargo & Company MN raised its position 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 valued at $915,000 after buying an additional 18,373 shares during the last quarter. Bank of Montreal Can raised its position 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 valued at $270,000 after buying an additional 2,962 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Pitney Bowes during the fourth quarter valued at about $1,068,000. Finally, Barclays PLC raised its position 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 valued at $2,299,000 after buying an additional 40,125 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

Pitney Bowes Stock Down 0.6%

NYSE:PBI opened at $11.3550 on Thursday. Pitney Bowes Inc. has a 12-month low of $6.22 and a 12-month high of $13.11. The firm has a market capitalization of $1.95 billion, a PE ratio of -18.93, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. The firm has a 50-day moving average price of $11.27 and a 200 day moving average price of $10.02.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted 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. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The firm had revenue of $461.91 million during the quarter, compared to analyst estimates of $475.92 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. The company's quarterly revenue 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, research analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 11th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.8%. 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. Pitney Bowes's dividend payout ratio (DPR) is currently -53.33%.

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

Insider Transactions 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 completion of the transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.00% of the stock is owned by company insiders.

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.

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