Pitney Bowes Inc. $PBI Position Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 501,354 shares of the technology company's stock after acquiring an additional 107,511 shares during the period. Public Sector Pension Investment Board owned about 0.27% of Pitney Bowes worth $4,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PBI. American Assets Inc. raised its holdings 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. Wells Fargo & Company MN raised its holdings in shares of Pitney Bowes by 17.0% during the fourth quarter. Wells Fargo & Company MN now owns 126,424 shares of the technology company's stock worth $915,000 after acquiring an additional 18,373 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Pitney Bowes by 8.6% during the fourth quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock worth $270,000 after acquiring an additional 2,962 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Pitney Bowes during the fourth quarter worth $1,068,000. Finally, Barclays PLC raised its holdings in shares of Pitney Bowes by 14.5% during the fourth quarter. Barclays PLC now owns 317,594 shares of the technology company's stock worth $2,299,000 after acquiring an additional 40,125 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Price Performance

NYSE PBI opened at $11.29 on Monday. Pitney Bowes Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $13.11. The stock's 50-day moving average is $11.22 and its two-hundred day moving average is $9.99. The firm has a market cap of $1.94 billion, a P/E ratio of -18.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.54.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share 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 company had revenue of $461.91 million for the quarter, compared to analyst estimates of $475.92 million. During the same period last year, the company earned $0.03 earnings per share. The business's revenue was down 5.7% compared to the same quarter last year. On average, equities analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

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

Pitney Bowes declared that its board has approved a share repurchase program on Wednesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 18.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PBI. Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti upgraded Pitney Bowes to a "hold" rating in a report on Monday, May 5th.

Insiders Place Their Bets

In other news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the transaction, the executive vice president directly owned 115,405 shares in the company, valued at approximately $1,401,016.70. The trade was a 23.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.00% of the stock is currently owned by company insiders.

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.

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