PDT Partners LLC Takes $992,000 Position in Pitney Bowes Inc. (NYSE:PBI)

PDT Partners LLC purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 137,026 shares of the technology company's stock, valued at approximately $992,000. PDT Partners LLC owned 0.08% of Pitney Bowes as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock worth $153,217,000 after buying an additional 1,299,716 shares during the period. Hestia Capital Management LLC purchased a new position in shares of Pitney Bowes during the 4th quarter worth about $114,326,000. Assenagon Asset Management S.A. boosted its position in shares of Pitney Bowes by 47.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,814,811 shares of the technology company's stock worth $13,139,000 after acquiring an additional 586,249 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Pitney Bowes by 182.4% in the third quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company's stock worth $6,897,000 after acquiring an additional 624,878 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in 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 valued at $6,373,000 after purchasing an additional 221,300 shares during the period. Institutional investors and hedge funds own 67.88% of the company's stock.

Insider Activity at Pitney Bowes

In related news, EVP James Arthur Fairweather sold 130,000 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the transaction, the executive vice president now directly owns 176,145 shares of the company's stock, valued at approximately $1,907,650.35. The trade was a 42.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kurt James Wolf sold 78,285 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.66, for a total transaction of $834,518.10. Following the completion of the sale, the director now directly owns 606,289 shares of the company's stock, valued at $6,463,040.74. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,941,529 shares of company stock worth $19,517,109. 9.00% of the stock is currently owned by corporate insiders.

Pitney Bowes Stock Performance

Pitney Bowes stock traded up $0.31 during midday trading on Friday, reaching $9.06. The stock had a trading volume of 1,542,316 shares, compared to its average volume of 2,071,447. The stock has a market capitalization of $1.66 billion, a PE ratio of -8.09, a price-to-earnings-growth ratio of 0.59 and a beta of 1.89. The stock's 50-day simple moving average is $8.96 and its 200 day simple moving average is $8.33. Pitney Bowes Inc. has a twelve month low of $4.62 and a twelve month high of $11.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. Equities analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.24 annualized dividend and a dividend yield of 2.65%. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's dividend payout ratio is presently -21.43%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Monday, March 31st.

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.