Teacher Retirement System of Texas Sells 28,267 Shares of Pitney Bowes Inc. (NYSE:PBI)

Teacher Retirement System of Texas cut its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 13.8% in the 1st quarter, according to the company in 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 period. Teacher Retirement System of Texas owned approximately 0.10% of Pitney Bowes worth $1,592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PBI. Vanguard Group Inc. grew 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 purchasing an additional 1,299,716 shares in the last quarter. First Trust Advisors LP bought a new position in Pitney Bowes in the 4th quarter valued at about $6,245,000. Millennium Management LLC increased its stake in Pitney Bowes by 103.0% during the 4th quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock valued at $9,189,000 after buying an additional 644,002 shares during the period. PEAK6 LLC acquired a new position in Pitney Bowes during the 4th quarter valued at about $3,547,000. Finally, Victory Capital Management Inc. raised its position in shares of Pitney Bowes by 1,356.4% during the 4th quarter. Victory Capital Management Inc. now owns 474,107 shares of the technology company's stock worth $3,433,000 after buying an additional 441,553 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Stock Down 2.1%

NYSE:PBI traded down $0.26 during trading hours on Tuesday, reaching $11.85. 2,385,513 shares of the company's stock were exchanged, compared to its average volume of 2,166,251. The company has a market capitalization of $2.17 billion, a P/E ratio of -13.05, a price-to-earnings-growth ratio of 0.59 and a beta of 1.60. Pitney Bowes Inc. has a 12 month low of $5.58 and a 12 month high of $12.55. The business's 50-day simple moving average is $10.24 and its two-hundred day simple moving average is $9.27.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $493.42 million for the quarter, compared to the consensus estimate of $498.99 million. During the same period in the previous year, the business earned ($0.01) EPS. The company's revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were issued a dividend of $0.07 per share. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Monday, May 19th. Pitney Bowes's dividend payout ratio (DPR) is -30.77%.

Analyst Ratings Changes

Several brokerages recently commented on PBI. Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti raised Pitney Bowes to a "hold" rating in a research note on Monday, May 5th.

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.