Public Sector Pension Investment Board Acquires 107,511 Shares of Pitney Bowes Inc. $PBI

Public Sector Pension Investment Board grew its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 27.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 501,354 shares of the technology company's stock after purchasing an additional 107,511 shares during the quarter. Public Sector Pension Investment Board owned 0.27% of Pitney Bowes worth $4,537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV acquired a new position in shares of Pitney Bowes during the first quarter worth about $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Pitney Bowes during the first quarter worth about $98,000. PFG Investments LLC lifted its stake in shares of Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after purchasing an additional 1,644 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pitney Bowes in the first quarter worth about $124,000. Finally, PharVision Advisers LLC acquired a new position in shares of Pitney Bowes in the fourth quarter worth about $107,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Pitney Bowes Price Performance

PBI stock traded up $0.5890 on Friday, reaching $11.8890. The company's stock had a trading volume of 1,221,425 shares, compared to its average volume of 2,628,924. Pitney Bowes Inc. has a 52 week low of $6.22 and a 52 week high of $13.11. The company has a market capitalization of $2.05 billion, a P/E ratio of -19.84, a price-to-earnings-growth ratio of 0.58 and a beta of 1.54. The firm has a fifty day moving average of $11.29 and a two-hundred day moving average of $10.04.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share for the quarter, hitting 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 firm had revenue of $461.91 million during the quarter, compared to the consensus estimate of $475.92 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The firm's revenue for the quarter 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 expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 18.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be issued a $0.08 dividend. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.32 dividend on an annualized basis and a yield of 2.7%. Pitney Bowes's payout ratio is currently -53.33%.

Insiders Place Their Bets

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PBI shares. Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti raised Pitney Bowes to a "hold" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Pitney Bowes presently has a consensus 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.