Trail Ridge Investment Advisors LLC Takes Position in Pitney Bowes Inc. (NYSE:PBI)

Trail Ridge Investment Advisors LLC purchased a new stake in Pitney Bowes Inc. (NYSE:PBI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 29,538 shares of the technology company's stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in Pitney Bowes during the 4th quarter valued at about $31,000. KBC Group NV acquired a new position in Pitney Bowes during the 1st quarter valued at about $65,000. PFG Investments LLC boosted its stake in Pitney Bowes by 14.6% during the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after purchasing an additional 1,644 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Pitney Bowes during the 1st quarter valued at about $124,000. Finally, Xponance Inc. boosted its stake in Pitney Bowes by 36.7% during the 4th quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock valued at $103,000 after purchasing an additional 3,837 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Pitney Bowes Price Performance

PBI stock opened at $11.00 on Monday. Pitney Bowes Inc. has a 52-week low of $5.58 and a 52-week high of $11.73. The company's 50 day simple moving average is $10.24 and its 200-day simple moving average is $9.27. The firm has a market capitalization 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 (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm's revenue was down 5.3% compared to the same quarter last year. Sell-side analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.55%. The ex-dividend date was Monday, May 19th. 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%.

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.

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