Canada Pension Plan Investment Board decreased its stake in Pitney Bowes Inc. (NYSE:PBI) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,071,551 shares of the technology company’s stock after selling 145,949 shares during the period. Canada Pension Plan Investment Board’s holdings in Pitney Bowes were worth $31,280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBI. BlackRock Inc. increased its stake in Pitney Bowes by 9,828.4% in the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock valued at $277,037,000 after buying an additional 20,918,761 shares in the last quarter. LSV Asset Management increased its stake in Pitney Bowes by 5.4% in the first quarter. LSV Asset Management now owns 4,012,566 shares of the technology company’s stock valued at $52,604,000 after buying an additional 205,000 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new stake in Pitney Bowes during the first quarter valued at about $50,988,000. Wedge Capital Management L L P NC increased its stake in Pitney Bowes by 25.1% in the first quarter. Wedge Capital Management L L P NC now owns 1,852,847 shares of the technology company’s stock valued at $24,291,000 after buying an additional 372,115 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Pitney Bowes by 37.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,780,498 shares of the technology company’s stock valued at $23,342,000 after buying an additional 486,581 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Shares of Pitney Bowes Inc. (NYSE:PBI) opened at 12.68 on Friday. Pitney Bowes Inc. has a 1-year low of $12.31 and a 1-year high of $19.10. The firm has a 50 day moving average price of $14.77 and a 200 day moving average price of $14.26. The firm has a market cap of $2.37 billion, a P/E ratio of 24.91 and a beta of 1.17.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.03. The company had revenue of $821.40 million for the quarter, compared to the consensus estimate of $822.90 million. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. Pitney Bowes’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. Analysts anticipate that Pitney Bowes Inc. will post $1.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be given a dividend of $0.1875 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.91%. Pitney Bowes’s dividend payout ratio (DPR) is presently 144.23%.

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PBI has been the topic of several recent research reports. Zacks Investment Research downgraded Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. 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 target on the stock. ValuEngine downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Sidoti raised Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, August 2nd. Finally, BidaskClub downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Three equities research 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. Pitney Bowes currently has an average rating of “Hold” and a consensus target price of $17.50.

In related news, Director Linda S. Sanford acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $15.09 per share, with a total value of $75,450.00. Following the transaction, the director now directly owns 18,690 shares of the company’s stock, valued at $282,032.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.01% of the stock is owned by corporate 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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Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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