Pitney Bowes Inc. $PBI Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Pitney Bowes Inc. by 38.9%, owning approximately 1.59% of the company after acquiring 817,953 shares in the first quarter.
• Pitney Bowes has initiated a $400 million stock buyback plan, indicating that its board believes the stock is undervalued.
• The company declared a quarterly dividend increase to $0.08 per share, reflecting a positive change from the previous dividend of $0.07, with a yield of 2.8%.

Invesco Ltd. lifted its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 38.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,918,742 shares of the technology company's stock after buying an additional 817,953 shares during the quarter. Invesco Ltd. owned approximately 1.59% of Pitney Bowes worth $26,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in shares of Pitney Bowes during the first quarter worth approximately $1,428,000. PARK CIRCLE Co grew its position in shares of Pitney Bowes by 10.4% during the first quarter. PARK CIRCLE Co now owns 204,185 shares of the technology company's stock worth $1,848,000 after buying an additional 19,185 shares in the last quarter. Deutsche Bank AG grew its position in shares of Pitney Bowes by 493.1% during the first quarter. Deutsche Bank AG now owns 850,538 shares of the technology company's stock worth $7,697,000 after buying an additional 707,133 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Pitney Bowes by 0.7% during the first quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company's stock worth $192,890,000 after buying an additional 151,353 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its holdings in Pitney Bowes by 4.3% in the first quarter. Atria Wealth Solutions Inc. now owns 85,340 shares of the technology company's stock worth $772,000 after purchasing an additional 3,500 shares during the period. Institutional investors and hedge funds own 67.88% of the company's stock.

Insider Activity

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the transaction, the executive vice president owned 115,405 shares of the company's stock, valued at approximately $1,401,016.70. The trade was a 23.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.00% of the company's stock.

Pitney Bowes Stock Performance

Shares of PBI opened at $11.4150 on Wednesday. Pitney Bowes Inc. has a 1 year low of $6.22 and a 1 year high of $13.11. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -19.03, a price-to-earnings-growth ratio of 0.57 and a beta of 1.54. The firm has a fifty day moving average of $11.25 and a 200-day moving average of $10.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The company had revenue of $461.91 million during the quarter, compared to the consensus estimate of $475.92 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company'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. Analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to buy up to 18.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Stockholders 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 dividend yield of 2.8%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, August 11th. Pitney Bowes's dividend payout ratio is presently -53.33%.

Analysts Set New Price Targets

A number of research firms have commented on PBI. Sidoti raised shares of Pitney Bowes to a "hold" rating in a report on Monday, May 5th. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

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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