LPL Financial LLC Purchases 117,636 Shares of Pitney Bowes Inc. $PBI

Key Points

• LPL Financial LLC increased its stake in Pitney Bowes by 50.4%, owning over 351,000 shares worth approximately $3.18 million as of the latest SEC filing.
• Pitney Bowes recently announced an increase in its quarterly dividend from $0.07 to $0.08 per share, reflecting a 2.8% dividend yield.
• The company reported $461.91 million in revenue for the quarter, which was below analyst expectations, and had a negative return on equity of 38.01%.

LPL Financial LLC lifted its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 50.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 351,233 shares of the technology company's stock after acquiring an additional 117,636 shares during the period. LPL Financial LLC owned 0.19% of Pitney Bowes worth $3,179,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Pitney Bowes by 103.0% in the 4th 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 in the last quarter. Bank of America Corp DE raised its position in shares of Pitney Bowes by 43.0% in the 4th 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 in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Pitney Bowes by 33.6% in the 4th 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 in the last quarter. First Trust Advisors LP bought a new position in shares of Pitney Bowes in the 4th quarter worth approximately $6,245,000. Finally, Two Sigma Investments LP raised its position in shares of Pitney Bowes by 1.2% in the 4th quarter. Two Sigma Investments LP now owns 807,414 shares of the technology company's stock worth $5,846,000 after acquiring an additional 9,471 shares in the last quarter. Institutional investors own 67.88% of the company's stock.

Pitney Bowes Trading Down 0.3%

PBI traded down $0.0350 during trading on Thursday, hitting $11.3050. 3,355,336 shares of the company's stock traded hands, compared to its average volume of 4,087,309. The company's 50 day simple moving average is $11.29 and its two-hundred day simple moving average is $10.04. Pitney Bowes Inc. has a 12-month low of $6.22 and a 12-month high of $13.11. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -18.84, a PEG ratio of 0.58 and a beta of 1.54.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting the consensus estimate 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 last year, the business posted $0.03 EPS. The company's 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. On average, equities analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes announced that its Board of Directors has approved a stock repurchase plan on Wednesday, July 30th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, August 11th. This represents a $0.32 annualized dividend and a yield of 2.8%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. Pitney Bowes's dividend payout ratio (DPR) is -53.33%.

Insider Buying and Selling

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction on Monday, July 14th. The stock was 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 trade represents a 23.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.00% of the company's stock.

Analyst Upgrades and Downgrades

PBI has been the subject of several research reports. Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Sidoti upgraded Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

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.