Pitney Bowes Inc. (NYSE:PBI - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $12.83 and last traded at $12.80, with a volume of 2630056 shares changing hands. The stock had previously closed at $12.46.
Analyst Ratings Changes
PBI has been the subject of several research analyst reports. Wall Street Zen lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 15th. Sidoti raised shares of Pitney Bowes to a "hold" rating in a research report on Monday, May 5th.
Check Out Our Latest Research Report on PBI
Pitney Bowes Trading Up 0.9%
The stock has a market capitalization of $2.24 billion, a PE ratio of -13.43, a price-to-earnings-growth ratio of 0.67 and a beta of 1.60. The company's 50-day moving average is $10.75 and its 200 day moving average is $9.55.
Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 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 firm had revenue of $493.42 million during the quarter, compared to analyst estimates of $498.99 million. During the same period last year, the firm posted ($0.01) EPS. Pitney Bowes's revenue was down 5.3% on a year-over-year basis. Sell-side analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.
Pitney Bowes Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were given a dividend of $0.07 per share. The ex-dividend date was Monday, May 19th. This is a positive change from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 2.29%. Pitney Bowes's dividend payout ratio (DPR) is currently -30.77%.
Insider Transactions at Pitney Bowes
In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the transaction, the executive vice president directly owned 115,405 shares of the company's stock, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 9.00% of the company's stock.
Hedge Funds Weigh In On Pitney Bowes
A number of institutional investors have recently bought and sold shares of the business. PFG Investments LLC raised its position in Pitney Bowes by 14.6% during the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock worth $117,000 after buying an additional 1,644 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Pitney Bowes by 11.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock valued at $130,000 after purchasing an additional 1,878 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Pitney Bowes by 16.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,896 shares of the technology company's stock valued at $182,000 after purchasing an additional 2,194 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Pitney Bowes by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock valued at $740,000 after purchasing an additional 2,711 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Pitney Bowes by 8.6% during the 4th quarter. Bank of Montreal Can now owns 37,259 shares of the technology company's stock valued at $270,000 after purchasing an additional 2,962 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.
About Pitney Bowes
(
Get Free Report)
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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