Engineers Gate Manager LP Has $2.14 Million Stake in Pitney Bowes Inc. (PBI)
Engineers Gate Manager LP grew its position in Pitney Bowes Inc. (NYSE:PBI) by 56.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,890 shares of the technology company’s stock after acquiring an additional 55,241 shares during the period. Engineers Gate Manager LP owned about 0.08% of Pitney Bowes worth $2,142,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sirios Capital Management L P acquired a new stake in shares of Pitney Bowes during the 3rd quarter worth about $45,044,000. Miller Howard Investments Inc. NY raised its stake in Pitney Bowes by 32.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock worth $71,351,000 after purchasing an additional 1,259,978 shares in the last quarter. Prudential Financial Inc. raised its stake in Pitney Bowes by 344.5% in the 2nd quarter. Prudential Financial Inc. now owns 1,482,000 shares of the technology company’s stock worth $22,378,000 after purchasing an additional 1,148,594 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Pitney Bowes by 93.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,110,043 shares of the technology company’s stock worth $31,863,000 after purchasing an additional 1,019,942 shares in the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in Pitney Bowes by 2,253.5% in the 2nd quarter. Freestone Capital Holdings LLC now owns 1,045,446 shares of the technology company’s stock worth $15,785,000 after purchasing an additional 1,001,026 shares in the last quarter. 73.78% of the stock is owned by institutional investors.
Pitney Bowes Inc. (NYSE:PBI) traded up $0.16 on Friday, reaching $10.68. 2,240,600 shares of the company’s stock were exchanged, compared to its average volume of 2,708,183. Pitney Bowes Inc. has a 52-week low of $9.50 and a 52-week high of $16.60. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 35.49. The company has a market cap of $1,964.38, a price-to-earnings ratio of 6.79 and a beta of 1.12.
Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.10). Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The firm had revenue of $842.82 million during the quarter, compared to the consensus estimate of $837.60 million. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. research analysts expect that Pitney Bowes Inc. will post 1.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be given a dividend of $0.1875 per share. The ex-dividend date is Monday, November 20th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 7.02%. Pitney Bowes’s payout ratio is presently 156.25%.
Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Loop Capital reduced their target price on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.50.
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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