Pitney Bowes Inc. $PBI Shares Purchased by Capital Management Corp VA

Key Points

• Capital Management Corp VA increased its stake in Pitney Bowes Inc. by 9.0%, now owning over 2.1 million shares, making it the firm’s 4th largest position.
• Director Brent D. Rosenthal bought 3,000 shares at $11.97 each, which represents a ∞ increase in his position, while insiders currently own 9.00% of the stock.
• The company's board has initiated a $400 million stock buyback program, indicating a belief that the stock is undervalued.

Capital Management Corp VA boosted its stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,161,580 shares of the technology company's stock after buying an additional 178,502 shares during the period. Pitney Bowes makes up approximately 4.0% of Capital Management Corp VA's portfolio, making the stock its 4th biggest position. Capital Management Corp VA owned about 1.18% of Pitney Bowes worth $23,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of Pitney Bowes during the first quarter valued at about $36,000. KBC Group NV purchased a new position in shares of Pitney Bowes during the 1st quarter worth approximately $65,000. United Services Automobile Association acquired a new stake in Pitney Bowes in the 1st quarter valued at approximately $96,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Pitney Bowes in the 1st quarter valued at approximately $98,000. Finally, PFG Investments LLC raised its position 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 during the period. Institutional investors and hedge funds own 67.88% of the company's stock.

Insiders Place Their Bets

In other news, Director Brent D. Rosenthal acquired 3,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were bought at an average cost of $11.97 per share, with a total value of $35,910.00. Following the transaction, the director owned 3,000 shares in the company, valued at approximately $35,910. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on PBI. Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Weiss Ratings restated a "sell (d)" rating on shares of Pitney Bowes in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce".

Pitney Bowes Trading Up 0.4%

Pitney Bowes stock opened at $11.04 on Wednesday. The firm has a market capitalization of $1.90 billion, a P/E ratio of -18.39, a P/E/G ratio of 0.56 and a beta of 1.27. Pitney Bowes Inc. has a twelve month low of $6.88 and a twelve month high of $13.11. The stock's fifty day simple moving average is $11.56 and its 200-day simple moving average is $10.54.

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 (EPS) for the quarter, meeting 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 analyst estimates of $475.92 million. During the same period last year, the business posted $0.03 earnings per share. Pitney Bowes'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. Sell-side analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes declared that its board has initiated a stock buyback program on Wednesday, July 30th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the technology company to purchase up to 18.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 11th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, August 11th. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.9%. Pitney Bowes's payout ratio is currently -53.33%.

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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