Pitney Bowes Inc. (PBI) Shares Sold by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC reduced its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 293,699 shares of the technology company’s stock after selling 36,259 shares during the period. Stoneridge Investment Partners LLC’s holdings in Pitney Bowes were worth $4,435,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. M&T Bank Corp raised its position in shares of Pitney Bowes by 1.7% in the first quarter. M&T Bank Corp now owns 26,743 shares of the technology company’s stock valued at $349,000 after buying an additional 439 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock valued at $146,000 after buying an additional 500 shares during the last quarter. Rothschild Investment Corp IL raised its position in shares of Pitney Bowes by 2.5% in the first quarter. Rothschild Investment Corp IL now owns 41,029 shares of the technology company’s stock valued at $538,000 after buying an additional 1,000 shares during the last quarter. State Treasurer State of Michigan raised its position in shares of Pitney Bowes by 1.6% in the second quarter. State Treasurer State of Michigan now owns 76,900 shares of the technology company’s stock valued at $1,161,000 after buying an additional 1,200 shares during the last quarter. Finally, Huntington National Bank raised its position in Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock worth $222,000 after buying an additional 1,553 shares in the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.
Pitney Bowes Inc. (NYSE PBI) opened at 13.37 on Wednesday. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $19.10. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 26.27 and a beta of 1.17. The firm’s 50-day moving average is $15.09 and its 200-day moving average is $14.37.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.03. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The firm had revenue of $821.40 million during the quarter, compared to analysts’ expectations of $822.90 million. During the same quarter in the prior year, the firm posted $0.39 EPS. Pitney Bowes’s quarterly revenue was down 1.7% compared to the same quarter last year. Analysts predict that Pitney Bowes Inc. will post $1.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio is currently 144.23%.
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A number of equities analysts have issued reports on PBI shares. Zacks Investment Research lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Sidoti lowered shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Loop Capital started coverage on shares of Pitney Bowes in a research report on Friday, July 28th. They set a “hold” rating and a $16.00 price target for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.50.
In other news, Director Linda S. Sanford acquired 5,000 shares of Pitney Bowes stock in a transaction on Wednesday, May 17th. The stock was bought at an average price of $15.09 per share, for a total transaction of $75,450.00. Following the completion of the purchase, the director now owns 18,690 shares in the company, valued at $282,032.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.01% of the stock is currently owned by insiders.
About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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