Texas Permanent School Fund Buys 2,910 Shares of Pitney Bowes Inc. (PBI)
Texas Permanent School Fund increased its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136,165 shares of the technology company’s stock after buying an additional 2,910 shares during the period. Texas Permanent School Fund’s holdings in Pitney Bowes were worth $2,056,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in shares of Pitney Bowes during the first quarter valued at about $159,000. Louisiana State Employees Retirement System boosted its position in shares of Pitney Bowes by 302.6% in the first quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the technology company’s stock valued at $617,000 after buying an additional 35,400 shares during the last quarter. Huntington National Bank boosted its position in shares of Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock valued at $222,000 after buying an additional 1,553 shares during the last quarter. Rothschild Investment Corp IL boosted 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. Finally, CAPROCK Group Inc. bought a new position in shares of Pitney Bowes during the first quarter valued at about $525,000. Institutional investors and hedge funds own 77.12% of the company’s stock.
Shares of Pitney Bowes Inc. (NYSE PBI) opened at 12.68 on Friday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 24.91 and a beta of 1.17. The stock’s 50 day moving average price is $14.77 and its 200 day moving average price is $14.26. Pitney Bowes Inc. has a 12 month low of $12.31 and a 12 month high of $19.10.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $821.40 million during the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. Equities research analysts predict that Pitney Bowes Inc. will post $1.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 5.91%. 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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PBI has been the subject of several recent research reports. Zacks Investment Research upgraded Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Friday, May 12th. Sidoti cut Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Loop Capital initiated coverage on Pitney Bowes in a research note on Friday, July 28th. They issued a “hold” rating and a $16.00 price objective for the company. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Pitney Bowes currently has an average rating of “Hold” and an average target price of $17.50.
In other Pitney Bowes news, Director Linda S. Sanford purchased 5,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average price of $15.09 per share, with a total value of $75,450.00. Following the completion of the acquisition, the director now owns 18,690 shares of the company’s stock, valued at approximately $282,032.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.01% of the company’s stock.
Pitney Bowes Company Profile
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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