Graham Capital Management L.P. Purchases 34,921 Shares of Pitney Bowes Inc. $PBI

Key Points

• Graham Capital Management L.P. increased its holdings in Pitney Bowes Inc. by 45.1%, owning 112,411 shares worth approximately $1,017,000 as of the end of the first quarter.
• Pitney Bowes declared a quarterly dividend increase to $0.08 per share, payable on September 8th, reflecting a positive change from the previous $0.07 dividend.
• The company announced a stock repurchase plan to buy back $400 million worth of its shares, indicating a belief that its stock is undervalued.

Graham Capital Management L.P. lifted its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 45.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,411 shares of the technology company's stock after buying an additional 34,921 shares during the period. Graham Capital Management L.P. owned about 0.06% of Pitney Bowes worth $1,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of Pitney Bowes in the 1st quarter worth approximately $36,000. KBC Group NV purchased a new position in Pitney Bowes in the 1st quarter valued at $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Pitney Bowes in the first quarter valued at $98,000. PFG Investments LLC raised its stake in Pitney Bowes by 14.6% during the 1st 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 during the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Pitney Bowes in the 1st quarter worth approximately $122,000. 67.88% of the stock is currently owned by institutional investors.

Insider Activity at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the sale, the executive vice president owned 115,405 shares in the company, valued at $1,401,016.70. The trade was a 23.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brent D. Rosenthal purchased 3,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average cost of $11.97 per share, with a total value of $35,910.00. Following the purchase, the director owned 3,000 shares of the company's stock, valued at approximately $35,910. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 9.00% of the company's stock.

Pitney Bowes Stock Performance

Shares of NYSE:PBI traded up $0.42 on Monday, reaching $12.70. The company's stock had a trading volume of 3,866,853 shares, compared to its average volume of 2,655,105. Pitney Bowes Inc. has a 52-week low of $6.22 and a 52-week high of $13.11. The company has a 50-day simple moving average of $11.66 and a 200 day simple moving average of $10.23. The company has a market cap of $2.19 billion, a P/E ratio of -21.18, a PEG ratio of 0.63 and a beta of 1.29.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $475.92 million. During the same quarter in the previous year, the firm earned $0.03 EPS. 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, equities research analysts forecast 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 buyback plan on Wednesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Pitney Bowes Increases Dividend

The company 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 dividend of $0.08 per share. The ex-dividend date is Monday, August 11th. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.5%. Pitney Bowes's dividend payout ratio is -53.33%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock 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.