Strs Ohio Purchases Shares of 78,200 Pitney Bowes Inc. $PBI

Key Points

• Strs Ohio acquired a new stake in Pitney Bowes Inc. by purchasing 78,200 shares valued at approximately $708,000 in the first quarter.
• Pitney Bowes recently declared a quarterly dividend increase to $0.08 from $0.07, representing a dividend yield of 2.7%.
• Wall Street Zen downgraded Pitney Bowes from a "strong-buy" to a "buy" rating, with the stock currently holding a consensus rating of "Hold."

Strs Ohio bought a new stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 78,200 shares of the technology company's stock, valued at approximately $708,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PBI. American Assets Inc. lifted its stake in Pitney Bowes by 80.6% during the fourth quarter. American Assets Inc. now owns 130,000 shares of the technology company's stock valued at $941,000 after purchasing an additional 58,000 shares during the last quarter. Bank of America Corp DE lifted its stake in Pitney Bowes by 43.0% during the fourth quarter. Bank of America Corp DE now owns 932,635 shares of the technology company's stock valued at $6,752,000 after purchasing an additional 280,402 shares during the last quarter. Deutsche Bank AG lifted its stake in Pitney Bowes by 46.1% during the fourth quarter. Deutsche Bank AG now owns 143,405 shares of the technology company's stock valued at $1,038,000 after purchasing an additional 45,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Pitney Bowes by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,275 shares of the technology company's stock valued at $668,000 after acquiring an additional 3,904 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Pitney Bowes by 103.0% in the 4th quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock valued at $9,189,000 after acquiring an additional 644,002 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Pitney Bowes Stock Performance

Shares of NYSE:PBI traded down $0.11 during midday trading on Monday, reaching $11.69. 740,946 shares of the company's stock were exchanged, compared to its average volume of 2,694,648. The company's 50 day simple moving average is $11.75 and its two-hundred day simple moving average is $10.31. The firm has a market capitalization of $2.01 billion, a PE ratio of -19.48, a price-to-earnings-growth ratio of 0.60 and a beta of 1.29. Pitney Bowes Inc. has a 12 month low of $6.66 and a 12 month high of $13.11.

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 firm had revenue of $461.91 million during the quarter, compared to the consensus estimate of $475.92 million. During the same period last year, the firm posted $0.03 EPS. The firm's quarterly revenue was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, August 11th. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. Pitney Bowes's dividend payout ratio is -53.33%.

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

Insider Activity

In other Pitney Bowes news, Director Brent D. Rosenthal purchased 3,000 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $11.97 per share, for a total transaction of $35,910.00. Following the transaction, the director directly owned 3,000 shares in the company, valued at $35,910. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the sale, the executive vice president owned 115,405 shares of the company's stock, valued at approximately $1,401,016.70. This represents a 23.27% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.00% of the company's stock.

About Pitney Bowes

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.