BlueMountain Capital Management LLC lifted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 75.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,914 shares of the technology company’s stock after purchasing an additional 118,091 shares during the period. BlueMountain Capital Management LLC owned about 0.15% of Pitney Bowes worth $4,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PBI. Nationwide Fund Advisors lifted its position in shares of Pitney Bowes by 481.9% during the first quarter. Nationwide Fund Advisors now owns 309,967 shares of the technology company’s stock worth $4,064,000 after purchasing an additional 256,697 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Pitney Bowes during the first quarter worth $420,000. Oregon Public Employees Retirement Fund lifted its position in shares of Pitney Bowes by 336.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 84,491 shares of the technology company’s stock worth $1,108,000 after purchasing an additional 65,153 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Pitney Bowes by 124.6% during the first quarter. Great West Life Assurance Co. Can now owns 108,618 shares of the technology company’s stock worth $1,421,000 after purchasing an additional 60,260 shares in the last quarter. Finally, State Treasurer State of Michigan lifted its position in shares of Pitney Bowes by 24.5% during the first quarter. State Treasurer State of Michigan now owns 75,700 shares of the technology company’s stock worth $992,000 after purchasing an additional 14,909 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.

PBI has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Loop Capital initiated coverage on shares of Pitney Bowes in a research report on Friday, July 28th. They set a “hold” rating and a $16.00 target price on the stock. Finally, Sidoti raised shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $17.50.

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Pitney Bowes Inc. (NYSE:PBI) traded up 1.25% during mid-day trading on Friday, reaching $12.98. 1,950,513 shares of the company traded hands. The stock has a 50 day moving average price of $12.95 and a 200-day moving average price of $14.04. The company has a market capitalization of $2.42 billion, a P/E ratio of 25.50 and a beta of 1.20. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $18.24.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the 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 business had revenue of $821.40 million during the quarter, compared to the consensus estimate of $822.90 million. During the same period in the prior year, the company posted $0.39 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. Analysts expect that Pitney Bowes Inc. will post $1.68 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were given a $0.1875 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.75 annualized dividend and a dividend yield of 5.78%. Pitney Bowes’s dividend payout ratio is 144.23%.

Pitney Bowes 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.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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