Pitney Bowes Inc. (NYSE:PBI) is Capital Management Corp VA's 8th Largest Position

Capital Management Corp VA cut its holdings in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,983,078 shares of the technology company's stock after selling 546,400 shares during the period. Pitney Bowes comprises approximately 3.1% of Capital Management Corp VA's portfolio, making the stock its 8th biggest holding. Capital Management Corp VA owned about 1.08% of Pitney Bowes worth $17,947,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PBI. Trail Ridge Investment Advisors LLC purchased a new position in Pitney Bowes in the first quarter valued at approximately $267,000. Bank of America Corp DE lifted its stake in Pitney Bowes by 43.0% in the fourth quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock valued at $6,752,000 after purchasing an additional 280,402 shares during the last quarter. American Assets Inc. lifted its position in shares of 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 acquiring an additional 58,000 shares in the last quarter. Man Group plc lifted its position in shares of Pitney Bowes by 76.1% during the fourth quarter. Man Group plc now owns 101,142 shares of the technology company's stock worth $732,000 after acquiring an additional 43,694 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Pitney Bowes by 1,030.5% during the first quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company's stock worth $278,000 after acquiring an additional 27,999 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Stock Up 2.0%

Shares of PBI stock traded up $0.24 during trading hours on Friday, hitting $12.01. 2,722,066 shares of the company's stock traded hands, compared to its average volume of 2,172,443. The stock's fifty day simple moving average is $10.51 and its two-hundred day simple moving average is $9.42. Pitney Bowes Inc. has a 12-month low of $5.58 and a 12-month high of $12.55. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -13.20, a PEG ratio of 0.64 and a beta of 1.60.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $493.42 million during the quarter, compared to the consensus estimate of $498.99 million. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) EPS. On average, equities analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were paid a $0.07 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.28 annualized dividend and a yield of 2.33%. This is a boost from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's payout ratio is presently -30.77%.

Insider Buying and Selling

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the company's 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 sale, the executive vice president directly owned 115,405 shares in the company, valued at approximately $1,401,016.70. This represents a 23.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PBI shares. Sidoti upgraded Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th.

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.