Pitney Bowes Inc. (NYSE:PBI) Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 495.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,558 shares of the technology company's stock after purchasing an additional 56,217 shares during the quarter. Mackenzie Financial Corp's holdings in Pitney Bowes were worth $489,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock worth $153,217,000 after acquiring an additional 1,299,716 shares during the period. Hestia Capital Management LLC acquired a new stake in Pitney Bowes during the fourth quarter worth about $114,326,000. Millennium Management LLC raised its stake in Pitney Bowes by 103.0% during the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock worth $9,189,000 after acquiring an additional 644,002 shares during the period. Bank of America Corp DE raised its stake in Pitney Bowes by 43.0% during the fourth quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock worth $6,752,000 after acquiring an additional 280,402 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Pitney Bowes by 33.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 880,300 shares of the technology company's stock worth $6,373,000 after acquiring an additional 221,300 shares during the period. Institutional investors own 67.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PBI shares. Wall Street Zen lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. Sidoti upgraded shares of Pitney Bowes to a "hold" rating in a research note on Monday, May 5th.

Pitney Bowes Stock Performance

Shares of NYSE:PBI traded up $0.20 during trading hours on Friday, hitting $10.52. The stock had a trading volume of 1,651,054 shares, compared to its average volume of 2,137,771. The stock's fifty day simple moving average is $9.02 and its 200 day simple moving average is $8.74. Pitney Bowes Inc. has a 1-year low of $4.62 and a 1-year high of $11.01. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -9.39, a PEG ratio of 0.59 and a beta of 1.61.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. The company had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. During the same quarter last year, the business earned ($0.01) earnings per share. Pitney Bowes's revenue was down 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's dividend payout ratio (DPR) is currently -30.77%.

Pitney Bowes Company 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.