Fuller & Thaler Asset Management Inc. Purchases Shares of 60,390 Pitney Bowes Inc. $PBI

Key Points

• Fuller & Thaler Asset Management Inc. recently acquired 60,390 shares of Pitney Bowes Inc., valued at approximately $547,000, reflecting growing institutional interest in the company.
• Pitney Bowes announced a quarterly dividend increase to $0.08, with plans for a $400 million stock repurchase program, indicating confidence in the company's stock valuation.
• The company's financial performance showed a negative net margin and revenue decline, with analysts currently holding a consensus rating of "Hold" for the stock.

Fuller & Thaler Asset Management Inc. acquired a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 60,390 shares of the technology company's stock, valued at approximately $547,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Investments LLC increased its holdings in Pitney Bowes by 14.6% in the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after buying an additional 1,644 shares during the last quarter. Bank of Montreal Can increased its holdings in Pitney Bowes by 8.6% in 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. Atria Wealth Solutions Inc. increased its holdings in Pitney Bowes by 4.3% in the first quarter. Atria Wealth Solutions Inc. now owns 85,340 shares of the technology company's stock valued at $772,000 after buying an additional 3,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Pitney Bowes by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,275 shares of the technology company's stock valued at $668,000 after buying an additional 3,904 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Pitney Bowes in the first quarter valued at about $36,000. 67.88% of the stock is owned by institutional investors.

Insider Transactions at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was 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 directly owned 115,405 shares of the company's stock, valued at $1,401,016.70. This represents a 23.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PBI has been the topic of a number of research reports. Sidoti upgraded Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Pitney Bowes has a consensus rating of "Hold".

Pitney Bowes Price Performance

PBI stock traded down $0.13 on Tuesday, reaching $12.26. The company's stock had a trading volume of 1,640,606 shares, compared to its average volume of 2,642,956. Pitney Bowes Inc. has a 52 week low of $6.22 and a 52 week high of $13.11. The company has a market capitalization of $2.11 billion, a P/E ratio of -20.43, a price-to-earnings-growth ratio of 0.61 and a beta of 1.54. The firm has a fifty day moving average of $11.36 and a two-hundred day moving average of $10.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $461.91 million during the quarter, compared to analyst estimates of $475.92 million. During the same period in the prior year, the company posted $0.03 EPS. The business'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. As a group, equities analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

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

Pitney Bowes Increases Dividend

The firm 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 positive change 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 yield of 2.6%. Pitney Bowes's dividend payout ratio is currently -53.33%.

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.