Pitney Bowes Inc. $PBI Stock Position Increased by Evergreen Wealth Management LLC

Evergreen Wealth Management LLC grew its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 698,354 shares of the technology company's stock after acquiring an additional 111,936 shares during the quarter. Pitney Bowes comprises about 3.7% of Evergreen Wealth Management LLC's investment portfolio, making the stock its 10th biggest holding. Evergreen Wealth Management LLC owned 0.43% of Pitney Bowes worth $7,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Gamco Investors INC. ET AL boosted its stake in shares of Pitney Bowes by 33.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 491,200 shares of the technology company's stock worth $5,192,000 after buying an additional 124,000 shares during the last quarter. Phoenix Financial Ltd. boosted its stake in shares of Pitney Bowes by 20.9% in the 4th quarter. Phoenix Financial Ltd. now owns 370,000 shares of the technology company's stock worth $3,909,000 after buying an additional 64,000 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Pitney Bowes in the 4th quarter worth $2,100,000. Maxi Investments CY Ltd purchased a new position in shares of Pitney Bowes in the 4th quarter worth $3,340,000. Finally, Indivisible Partners purchased a new position in shares of Pitney Bowes in the 4th quarter worth $595,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Insider Transactions at Pitney Bowes

In related news, CEO Kurt James Wolf sold 389,161 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $15.69, for a total transaction of $6,105,936.09. Following the sale, the chief executive officer owned 363,853 shares of the company's stock, valued at $5,708,853.57. This represents a 51.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brent D. Rosenthal purchased 4,000 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $10.22 per share, for a total transaction of $40,880.00. Following the purchase, the director owned 9,000 shares of the company's stock, valued at $91,980. This represents a 80.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 2,456,054 shares of company stock worth $34,864,180 over the last quarter. 6.50% of the stock is owned by company insiders.

Pitney Bowes Stock Up 4.4%

Shares of Pitney Bowes stock opened at $16.45 on Tuesday. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $16.56. The stock's 50-day simple moving average is $12.63 and its 200-day simple moving average is $11.07. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.71 and a beta of 1.64.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm had revenue of $477.41 million for the quarter, compared to the consensus estimate of $471.83 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The company's quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Monday, May 18th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, May 18th. Pitney Bowes's payout ratio is currently 34.95%.

Wall Street Analyst Weigh In

PBI has been the topic of a number of research reports. Citizens Jmp raised their price objective on shares of Pitney Bowes from $13.00 to $14.00 and gave the stock a "market outperform" rating in a report on Friday, April 17th. Citigroup reiterated an "outperform" rating on shares of Pitney Bowes in a research report on Friday, April 17th. Zacks Research upgraded Pitney Bowes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Truist Financial lifted their target price on Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research report on Thursday, May 7th. Finally, Bank of America upgraded Pitney Bowes from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $9.50 to $16.50 in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $15.18.

Pitney Bowes Company Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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