Gamco Investors INC. ET AL Buys 124,000 Shares of Pitney Bowes Inc. $PBI

Key Points

• Gamco Investors boosted its Pitney Bowes stake by 33.8% in the fourth quarter, buying 124,000 additional shares for a total of 491,200 shares valued at about $5.19 million.
• Institutional ownership remains high, with hedge funds and other investors holding 67.88% of Pitney Bowes shares, and several firms including State Street, Cannell & Spears, and Invesco also increasing their positions recently.
• Analyst sentiment is mixed but constructive: the stock has a consensus rating of “Moderate Buy” with a $15.18 average price target, while Pitney Bowes also reported quarterly EPS that matched expectations and raised its dividend to $0.01 per share.

Gamco Investors INC. ET AL raised its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 33.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 491,200 shares of the technology company's stock after purchasing an additional 124,000 shares during the period. Gamco Investors INC. ET AL owned 0.31% of Pitney Bowes worth $5,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its stake in shares of Pitney Bowes by 3.1% in the second quarter. State Street Corp now owns 6,366,188 shares of the technology company's stock worth $69,455,000 after acquiring an additional 188,886 shares during the last quarter. Cannell & Spears LLC boosted its holdings in shares of Pitney Bowes by 89.5% in the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company's stock worth $38,389,000 after acquiring an additional 1,588,579 shares in the last quarter. Capital Management Corp VA grew its holdings in Pitney Bowes by 25.3% during the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company's stock worth $30,974,000 after acquiring an additional 592,568 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Pitney Bowes by 29.5% in the third quarter. Invesco Ltd. now owns 2,622,003 shares of the technology company's stock valued at $29,917,000 after purchasing an additional 597,938 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Pitney Bowes by 34.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,877,315 shares of the technology company's stock valued at $21,418,000 after buying an additional 480,701 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PBI has been the subject of a number of recent research reports. Weiss Ratings raised shares of Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 8th. Citizens Jmp raised their price target on Pitney Bowes from $13.00 to $14.00 and gave the stock a "market outperform" rating in a research report on Friday, April 17th. Zacks Research upgraded Pitney Bowes from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Truist Financial lifted their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.18.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Brent D. Rosenthal bought 4,000 shares of Pitney Bowes stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $10.22 per share, with a total value of $40,880.00. Following the acquisition, the director owned 9,000 shares in the company, valued at $91,980. This trade represents a 80.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kurt James Wolf sold 389,161 shares of Pitney Bowes stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $15.69, for a total value of $6,105,936.09. Following the completion of the transaction, the chief executive officer owned 363,853 shares in the company, valued at approximately $5,708,853.57. This represents a 51.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,456,054 shares of company stock valued at $34,864,180 over the last 90 days. Corporate insiders own 6.50% of the company's stock.

Pitney Bowes Price Performance

Shares of NYSE PBI opened at $15.63 on Wednesday. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $16.56. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 0.74 and a beta of 1.64. The stock's fifty day moving average price is $12.74 and its two-hundred day moving average price is $11.10.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, May 18th. Pitney Bowes's dividend payout ratio is 38.83%.

Pitney Bowes Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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