PDT Partners LLC Sells 47,574 Shares of Pitney Bowes Inc. $PBI

Key Points

• PDT Partners LLC sold 47,574 shares of Pitney Bowes, reducing its holdings by 34.7% to 89,452 shares valued at approximately $810,000 at the end of the reporting period.
• Pitney Bowes reported a 0.27 EPS for the last quarter, meeting analysts' expectations, but its revenue was down 5.7% year-over-year, totaling $461.91 million.
• The company announced a stock repurchase plan of $400 million to buy back up to 18.9% of its shares, indicating management's belief that the stock is undervalued.

PDT Partners LLC cut its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 34.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,452 shares of the technology company's stock after selling 47,574 shares during the quarter. PDT Partners LLC's holdings in Pitney Bowes were worth $810,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of Pitney Bowes in the 1st quarter worth $36,000. KBC Group NV bought a new stake in Pitney Bowes during the first quarter valued at $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Pitney Bowes during the 1st quarter valued at about $98,000. PharVision Advisers LLC acquired a new stake in Pitney Bowes in the 4th quarter valued at about $107,000. Finally, PFG Investments LLC raised its holdings in Pitney Bowes by 14.6% during the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after buying an additional 1,644 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.14, for a total transaction 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 trade represents a 23.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brent D. Rosenthal bought 3,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $11.97 per share, with a total value of $35,910.00. Following the transaction, the director directly owned 3,000 shares in the company, valued at approximately $35,910. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.00% of the company's stock.

Pitney Bowes Trading Up 3.2%

NYSE:PBI traded up $0.40 during trading hours on Monday, reaching $12.68. 5,847,301 shares of the company traded hands, compared to its average volume of 2,662,182. Pitney Bowes Inc. has a 1 year low of $6.22 and a 1 year high of $13.11. The stock has a market capitalization of $2.18 billion, a P/E ratio of -21.13, a P/E/G ratio of 0.63 and a beta of 1.29. The business's 50-day moving average price is $11.66 and its two-hundred day moving average price is $10.23.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The business had revenue of $461.91 million for the quarter, compared to the consensus estimate of $475.92 million. During the same period in the prior year, the business posted $0.03 earnings per share. The company's quarterly revenue was down 5.7% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, equities analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company 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 dividend of $0.08 per share. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 11th. Pitney Bowes's dividend payout ratio is currently -53.33%.

Pitney Bowes announced that its board has initiated a stock repurchase plan on Wednesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

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.