Teacher Retirement System of Texas Has $1.59 Million Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Teacher Retirement System of Texas cut its position in Pitney Bowes Inc. (NYSE:PBI - Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,929 shares of the technology company's stock after selling 28,267 shares during the quarter. Teacher Retirement System of Texas owned 0.10% of Pitney Bowes worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in Pitney Bowes in the fourth quarter valued at $31,000. KBC Group NV acquired a new stake in Pitney Bowes in the first quarter valued at $65,000. Xponance Inc. raised its holdings in Pitney Bowes by 36.7% in the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock valued at $103,000 after acquiring an additional 3,837 shares in the last quarter. PharVision Advisers LLC acquired a new stake in Pitney Bowes in the fourth quarter valued at $107,000. Finally, Cibc World Markets Corp acquired a new stake in Pitney Bowes in the fourth quarter valued at $110,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Stock Down 0.7%

Pitney Bowes stock traded down $0.08 during trading hours on Friday, hitting $11.00. 3,376,257 shares of the company traded hands, compared to its average volume of 2,145,478. The firm's 50-day simple moving average is $10.24 and its two-hundred day simple moving average is $9.25. The firm has a market cap of $2.01 billion, a P/E ratio of -12.09, a P/E/G ratio of 0.59 and a beta of 1.60. Pitney Bowes Inc. has a 1-year low of $5.58 and a 1-year high of $11.65.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. The firm had revenue of $493.42 million for the quarter, compared to analysts' expectations of $498.99 million. During the same period in the previous year, the company posted ($0.01) EPS. The company's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict 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 Friday, June 6th. Stockholders of record on Monday, May 19th were given a dividend of $0.07 per share. The ex-dividend date was Monday, May 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. Pitney Bowes's dividend payout ratio is currently -30.77%.

Wall Street Analysts Forecast Growth

PBI has been the topic of a number of research reports. Wall Street Zen cut shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a report 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.