Penbrook Management LLC Makes New $264,000 Investment in Pitney Bowes Inc. (NYSE:PBI)

Penbrook Management LLC acquired a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,125 shares of the technology company's stock, valued at approximately $264,000.

Several other large investors have also recently added to or reduced their stakes in PBI. Hestia Capital Management LLC acquired a new position in shares of Pitney Bowes in the fourth quarter worth $114,326,000. Principal Financial Group Inc. boosted its holdings in Pitney Bowes by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 768,373 shares of the technology company's stock valued at $5,563,000 after purchasing an additional 30,658 shares during the period. American Assets Inc. grew its stake in Pitney Bowes by 80.6% during the 4th 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 in the last quarter. Bank of America Corp DE increased its holdings in Pitney Bowes by 43.0% during the 4th quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock worth $6,752,000 after purchasing an additional 280,402 shares during the period. Finally, Vanguard Group Inc. raised its position in Pitney Bowes by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock valued at $153,217,000 after purchasing an additional 1,299,716 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Price Performance

Shares of PBI traded up $0.07 during midday trading on Friday, reaching $10.31. 1,798,151 shares of the stock were exchanged, compared to its average volume of 2,120,895. Pitney Bowes Inc. has a twelve month low of $4.62 and a twelve month high of $11.01. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -9.21, a PEG ratio of 0.59 and a beta of 1.47. The business's 50-day moving average price is $8.92 and its 200 day moving average price is $8.64.

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

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Monday, May 19th will be given a $0.07 dividend. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date is Monday, May 19th. This represents a $0.28 annualized dividend and a yield of 2.72%. Pitney Bowes's dividend payout ratio is -30.77%.

Insider Buying and Selling

In other Pitney Bowes news, Director Kurt James Wolf sold 481,199 shares of Pitney Bowes stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total value of $5,182,513.23. Following the transaction, the director now directly owns 584,636 shares in the company, valued at approximately $6,296,529.72. The trade was a 45.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PBI. Wall Street Zen downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a research report on Monday, May 5th.

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.