Harvest Fund Management Co. Ltd Purchases New Stake in Pitney Bowes Inc. (NYSE:PBI)

Harvest Fund Management Co. Ltd bought a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 94,707 shares of the technology company's stock, valued at approximately $857,000. Harvest Fund Management Co. Ltd owned about 0.05% of Pitney Bowes as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of PBI. PFG Investments LLC raised its holdings in shares of Pitney Bowes by 14.6% in the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after purchasing an additional 1,644 shares during the period. Federated Hermes Inc. increased its stake in Pitney Bowes by 2.7% in the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock worth $740,000 after purchasing an additional 2,711 shares during the period. Bank of Montreal Can boosted its stake in Pitney Bowes by 8.6% during the fourth quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock worth $270,000 after acquiring an additional 2,962 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Pitney Bowes by 4.4% during 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 acquiring an additional 3,904 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Pitney Bowes in the fourth quarter worth about $31,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the firm'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 sale, the executive vice president owned 115,405 shares of the company's stock, valued at $1,401,016.70. This trade represents a 23.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.00% of the company's stock.

Pitney Bowes Stock Down 1.6%

Shares of PBI traded down $0.19 during midday trading on Wednesday, hitting $11.38. The company had a trading volume of 4,369,158 shares, compared to its average volume of 2,895,017. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -12.51, a PEG ratio of 0.62 and a beta of 1.60. The company's 50 day moving average price is $10.91 and its 200 day moving average price is $9.66. Pitney Bowes Inc. has a 52 week low of $5.58 and a 52 week high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting analysts' consensus estimates of $0.27. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company's quarterly revenue was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.08 per share. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.81%. Pitney Bowes's payout ratio is -30.77%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PBI. Sidoti upgraded Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th.

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.