Ieq Capital LLC Invests $422,000 in Pitney Bowes Inc. $PBI

Key Points

• Ieq Capital LLC acquired 46,665 shares of Pitney Bowes Inc. valued at approximately $422,000 during the first quarter, reflecting growing interest among institutional investors in the company.
• Analysts downgraded Pitney Bowes from a "strong-buy" to a "buy" rating, though the stock maintains a consensus rating of "Hold" among equities research analysts.
• Pitney Bowes recently increased its quarterly dividend to $0.08 per share, signaling confidence in its financial outlook, despite a negative return on equity of 38.01% reported in its latest earnings.

Ieq Capital LLC purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,665 shares of the technology company's stock, valued at approximately $422,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PBI. Invesco Ltd. grew its stake in shares of Pitney Bowes by 38.9% during the 1st quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company's stock worth $26,415,000 after purchasing an additional 817,953 shares during the period. Deutsche Bank AG grew its stake in shares of Pitney Bowes by 493.1% during the 1st quarter. Deutsche Bank AG now owns 850,538 shares of the technology company's stock worth $7,697,000 after purchasing an additional 707,133 shares during the period. Millennium Management LLC grew its stake in Pitney Bowes by 103.0% in the 4th quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock valued at $9,189,000 after acquiring an additional 644,002 shares during the last quarter. Nuveen LLC acquired a new stake in Pitney Bowes in the 1st quarter valued at about $5,322,000. Finally, Federated Hermes Inc. grew its stake in Pitney Bowes by 407.1% in the 1st quarter. Federated Hermes Inc. now owns 518,220 shares of the technology company's stock valued at $4,690,000 after acquiring an additional 416,023 shares during the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, Pitney Bowes currently has an average rating of "Hold".

Insider Activity

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

Pitney Bowes Price Performance

NYSE:PBI traded down $0.08 on Wednesday, reaching $11.66. The stock had a trading volume of 396,554 shares, compared to its average volume of 2,684,507. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -19.48, a P/E/G ratio of 0.65 and a beta of 1.29. The firm's fifty day moving average is $11.70 and its two-hundred day moving average is $10.26. Pitney Bowes Inc. has a 12-month low of $6.22 and a 12-month high of $13.11.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. The company had revenue of $461.91 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, research analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were issued a $0.08 dividend. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date was Monday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 2.7%. Pitney Bowes's payout ratio is currently -53.33%.

Pitney Bowes declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

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.