National Bank of Canada FI Takes $1.43 Million Position in Pitney Bowes Inc. $PBI

Key Points

• National Bank of Canada FI acquired a new stake in Pitney Bowes Inc., purchasing 157,787 shares valued at approximately $1.43 million, representing 0.09% ownership.
• Pitney Bowes recently reported quarterly earnings of $0.27 EPS, meeting analysts' expectations, despite a 5.7% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.08 per share, an increase from the previous quarter, along with initiating a stock buyback plan authorizing $400 million in shares.

National Bank of Canada FI purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 157,787 shares of the technology company's stock, valued at approximately $1,428,000. National Bank of Canada FI owned 0.09% of Pitney Bowes at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PBI. American Assets Inc. increased its stake in Pitney Bowes by 80.6% during the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company's stock worth $941,000 after purchasing an additional 58,000 shares during the period. Wells Fargo & Company MN increased its stake in Pitney Bowes by 17.0% during the fourth quarter. Wells Fargo & Company MN now owns 126,424 shares of the technology company's stock worth $915,000 after purchasing an additional 18,373 shares during the period. Bank of Montreal Can increased 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 purchasing an additional 2,962 shares during the period. Advisory Services Network LLC purchased a new stake in Pitney Bowes during the fourth quarter worth about $358,000. Finally, Raymond James Financial Inc. purchased a new stake in Pitney Bowes during the fourth quarter worth about $1,068,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Stock Down 0.3%

Pitney Bowes stock traded down $0.0350 during trading on Thursday, reaching $11.3050. The stock had a trading volume of 3,355,336 shares, compared to its average volume of 4,087,309. Pitney Bowes Inc. has a 52-week low of $6.22 and a 52-week high of $13.11. The business has a 50 day moving average price of $11.29 and a 200 day moving average price of $10.04. The stock has a market cap of $1.95 billion, a PE ratio of -18.84, a P/E/G ratio of 0.58 and a beta of 1.54.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly 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 firm had revenue of $461.91 million during the quarter, compared to the consensus estimate of $475.92 million. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The firm's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, equities analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 11th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, August 11th. Pitney Bowes's dividend payout ratio is currently -53.33%.

Pitney Bowes declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 30th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Sidoti raised Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Pitney Bowes presently has an average rating of "Hold".

Insider Transactions at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the transaction, the executive vice president directly owned 115,405 shares of the company's stock, valued at $1,401,016.70. This represents a 23.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.00% of the stock is owned by company insiders.

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.