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StockNews.com upgraded shares of Pitney Bowes (NYSE:PBI – Free Report) from a buy rating to a strong-buy rating in a research note released on Monday.
Pitney Bowes Price Performance
Shares of NYSE PBI opened at $10.62 on Monday. Pitney Bowes has a 1 year low of $3.90 and a 1 year high of $11.01. The firm has a 50-day simple moving average of $8.61 and a two-hundred day simple moving average of $7.76. The company has a market cap of $1.94 billion, a P/E ratio of -9.48, a PEG ratio of 0.59 and a beta of 2.01.
Pitney Bowes (NYSE:PBI – Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate 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%. As a group, equities research analysts expect that Pitney Bowes will post 1.21 EPS for the current year.
Pitney Bowes Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid a $0.06 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 21st. Pitney Bowes’s dividend payout ratio is currently -21.43%.
Insider Activity
In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kurt James Wolf sold 1,250,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $9.66, for a total value of $12,075,000.00. Following the transaction, the director now owns 622,250 shares in the company, valued at approximately $6,010,935. This represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,493,285 shares of company stock valued at $14,633,118. Corporate insiders own 14.30% of the company’s stock.
Institutional Trading of Pitney Bowes
A number of hedge funds have recently added to or reduced their stakes in PBI. New York State Teachers Retirement System raised its holdings in shares of Pitney Bowes by 5.9% in the 3rd quarter. New York State Teachers Retirement System now owns 257,279 shares of the technology company’s stock valued at $1,834,000 after purchasing an additional 14,428 shares in the last quarter. James J. Burns & Company LLC bought a new stake in Pitney Bowes during the 3rd quarter valued at $121,000. Los Angeles Capital Management LLC purchased a new position in Pitney Bowes in the third quarter valued at about $1,395,000. GSA Capital Partners LLP raised its holdings in Pitney Bowes by 94.8% in the third quarter. GSA Capital Partners LLP now owns 89,352 shares of the technology company’s stock worth $637,000 after purchasing an additional 43,489 shares in the last quarter. Finally, American Assets Inc. bought a new position in Pitney Bowes in the third quarter worth about $513,000. 67.88% of the stock is owned by hedge funds and other institutional investors.
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.
See Also
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