Hennessy Advisors Inc. Cuts Stake in Pitney Bowes Inc. $PBI

Key Points

• Hennessy Advisors cut its Pitney Bowes stake by 39% in the second quarter, selling 380,600 shares and retaining 594,900 shares worth approximately $10.4 million. Institutional investors collectively own 67.88% of the company.
• Pitney Bowes reported quarterly EPS of $0.43, exceeding estimates of $0.34, while revenue fell 2.4% year over year to $451.5 million. The stock opened at $17.23, near its 52-week high of $19.07.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $18.45, although insiders sold 2.42 million shares worth roughly $42.3 million over the past 90 days.

Hennessy Advisors Inc. cut its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 39.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 594,900 shares of the technology company's stock after selling 380,600 shares during the quarter. Hennessy Advisors Inc. owned about 0.43% of Pitney Bowes worth $10,423,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Longview Financial Advisors Inc. bought a new stake in shares of Pitney Bowes during the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company's stock worth $38,000 after acquiring an additional 1,015 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Pitney Bowes by 190.9% in the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company's stock valued at $40,000 after acquiring an additional 2,459 shares in the last quarter. UMB Bank n.a. lifted its position in Pitney Bowes by 404.6% in the 4th quarter. UMB Bank n.a. now owns 4,022 shares of the technology company's stock valued at $43,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Pitney Bowes during the 2nd quarter valued at $46,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Pitney Bowes Price Performance

NYSE PBI opened at $17.23 on Friday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.69 and a beta of 1.63. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $19.07. The business's fifty day moving average price is $17.41 and its 200-day moving average price is $14.68.

• Pitney Bowes NYSE: PBI is Surging, Is it Too Risky?

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Pitney Bowes had a negative return on equity of 31.37% and a net margin of 10.04%.The business had revenue of $451.50 million for the quarter, compared to analysts' expectations of $453.94 million. During the same period last year, the firm posted $0.27 earnings per share. The business's revenue for the quarter was down 2.4% on a year-over-year basis. Pitney Bowes has set its FY 2026 guidance at 1.550-1.700 EPS. Equities research analysts anticipate that Pitney Bowes Inc. will post 1.68 EPS for the current year.

Pitney Bowes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, August 10th. Pitney Bowes's payout ratio is 32.79%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PBI shares. The Goldman Sachs Group restated a "neutral" rating and issued a $17.30 price target on shares of Pitney Bowes in a research note on Thursday, July 30th. Weiss Ratings raised Pitney Bowes from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 31st. Zacks Research upgraded Pitney Bowes from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Citigroup reissued a "market outperform" rating on shares of Pitney Bowes in a research report on Friday, July 31st. Finally, Bank of America raised shares of Pitney Bowes from an "underperform" rating to a "neutral" rating and raised their price target for the company from $9.50 to $16.50 in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.45.

Insider Buying and Selling

In other Pitney Bowes news, EVP Todd A. Everett sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $18.07, for a total value of $451,750.00. Following the transaction, the executive vice president directly owned 96,048 shares in the company, valued at approximately $1,735,587.36. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kurt James Wolf sold 413,266 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $18.11, for a total transaction of $7,484,247.26. Following the completion of the transaction, the chief executive officer owned 122,963 shares in the company, valued at $2,226,859.93. The trade was a 77.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,417,150 shares of company stock valued at $42,333,327. 6.50% of the stock is owned by corporate insiders.

Pitney Bowes Company 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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