Gamco Investors INC. ET AL Decreases Holdings in Pitney Bowes Inc. $PBI

Key Points

• Gamco Investors INC. ET AL reduced its stake in Pitney Bowes by 8.9%, owning 465,300 shares worth approximately $4.21 million after selling 45,400 shares in the first quarter.
• Pitney Bowes announced a quarterly dividend increase from $0.07 to $0.08 per share, with the ex-dividend date set for August 11th, representing a 2.6% dividend yield.
• The company's Board of Directors approved a $400 million stock repurchase program, indicating management's belief that the stock may be undervalued.

Gamco Investors INC. ET AL reduced its stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,300 shares of the technology company's stock after selling 45,400 shares during the period. Gamco Investors INC. ET AL owned approximately 0.25% of Pitney Bowes worth $4,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in shares of Pitney Bowes in the first quarter worth about $36,000. KBC Group NV acquired a new position in Pitney Bowes during the 1st quarter worth approximately $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Pitney Bowes during the 1st quarter worth approximately $98,000. PharVision Advisers LLC purchased a new position in Pitney Bowes in the 4th quarter worth approximately $107,000. Finally, PFG Investments LLC grew its position 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 acquiring an additional 1,644 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.

Insider Buying and Selling

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 115,405 shares of the company's stock, valued at $1,401,016.70. The trade was a 23.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.00% of the company's stock.

Pitney Bowes Trading Up 0.4%

PBI stock opened at $12.29 on Thursday. The firm has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $10.14. The company has a market capitalization of $2.11 billion, a P/E ratio of -20.48, a PEG ratio of 0.63 and a beta of 1.54. Pitney Bowes Inc. has a twelve month low of $6.22 and a twelve month high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting analysts' consensus estimates of $0.27. The firm had revenue of $461.91 million for the quarter, compared to the consensus estimate of $475.92 million. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The firm's revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, research analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to buy up to 18.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.6%. Pitney Bowes's dividend payout ratio is -53.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Sidoti raised shares of Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

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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