Invesco Ltd. Has $26.42 Million Position in Pitney Bowes Inc. $PBI

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. raised its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 38.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,918,742 shares of the technology company's stock after purchasing an additional 817,953 shares during the period. Invesco Ltd. owned approximately 1.59% of Pitney Bowes worth $26,415,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PBI. KBC Group NV bought a new stake in Pitney Bowes in the first quarter valued at approximately $65,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Pitney Bowes in the first quarter valued at approximately $98,000. PharVision Advisers LLC bought a new stake in Pitney Bowes in the fourth quarter valued at approximately $107,000. PFG Investments LLC increased its stake in Pitney Bowes by 14.6% in the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Pitney Bowes in the first quarter valued at approximately $124,000. Institutional investors own 67.88% of the company's stock.

Analyst Ratings Changes

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

Pitney Bowes Price Performance

PBI stock traded up $0.58 during midday trading on Monday, hitting $12.40. The company's stock had a trading volume of 3,829,870 shares, compared to its average volume of 4,168,027. Pitney Bowes Inc. has a twelve month low of $6.22 and a twelve month high of $13.11. The company's fifty day moving average price is $11.36 and its 200 day moving average price is $10.11. The stock has a market capitalization of $2.13 billion, a P/E ratio of -20.67, a PEG ratio of 0.61 and a beta of 1.54.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued 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 firm had revenue of $461.91 million for the quarter, compared to analyst estimates of $475.92 million. During the same period in the previous year, the business earned $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. Equities analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Monday, August 11th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 11th. This is an increase from Pitney Bowes's previous quarterly dividend of $0.07. Pitney Bowes's dividend payout ratio (DPR) is presently -53.33%.

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

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.00% of the company's stock.

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.