State of Wyoming Has $78,000 Holdings in Pitney Bowes Inc. (NYSE:PBI)

State of Wyoming cut its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 83.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,830 shares of the technology company's stock after selling 55,917 shares during the period. State of Wyoming's holdings in Pitney Bowes were worth $78,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PBI. Vanguard Group Inc. raised its stake in shares of Pitney Bowes by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock worth $153,217,000 after acquiring an additional 1,299,716 shares during the last quarter. Hestia Capital Management LLC bought a new position in shares of Pitney Bowes in the fourth quarter worth about $114,326,000. Millennium Management LLC raised its stake in shares of Pitney Bowes by 103.0% in the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock worth $9,189,000 after acquiring an additional 644,002 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Pitney Bowes by 43.0% in the fourth quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock worth $6,752,000 after acquiring an additional 280,402 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Pitney Bowes by 33.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 880,300 shares of the technology company's stock worth $6,373,000 after acquiring an additional 221,300 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Trading Down 0.5%

Shares of PBI traded down $0.05 on Monday, reaching $10.25. 1,696,766 shares of the company's stock were exchanged, compared to its average volume of 2,122,821. The stock has a market capitalization of $1.88 billion, a P/E ratio of -9.15, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. The business has a 50 day moving average price of $8.93 and a two-hundred day moving average price of $8.67. Pitney Bowes Inc. has a 12 month low of $4.62 and a 12 month high of $11.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $493.42 million during the quarter, compared to the consensus estimate of $498.99 million. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. Pitney Bowes's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. Equities research analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Monday, May 19th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.73%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date is Monday, May 19th. Pitney Bowes's payout ratio is -30.77%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a research note on Monday, May 5th.

Pitney Bowes Company 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.