SummerHaven Investment Management LLC Purchases Shares of 76,434 Pitney Bowes Inc. $PBI

SummerHaven Investment Management LLC acquired a new position in Pitney Bowes Inc. (NYSE:PBI) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 76,434 shares of the technology company’s stock, valued at approximately $872,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PBI. Trail Ridge Investment Advisors LLC grew its position in Pitney Bowes by 5.1% in the third quarter. Trail Ridge Investment Advisors LLC now owns 20,890 shares of the technology company’s stock worth $238,000 after buying an additional 1,008 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,015 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Pitney Bowes by 0.5% during the second quarter. New York State Teachers Retirement System now owns 257,827 shares of the technology company’s stock worth $2,813,000 after purchasing an additional 1,246 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of Pitney Bowes by 12.5% during the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock valued at $144,000 after purchasing an additional 1,459 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Pitney Bowes by 3.4% in the 3rd quarter. Amalgamated Bank now owns 46,680 shares of the technology company’s stock valued at $533,000 after purchasing an additional 1,555 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Pitney Bowes Trading Down 1.2%

NYSE PBI opened at $10.17 on Wednesday. Pitney Bowes Inc. has a 1-year low of $7.39 and a 1-year high of $13.11. The firm’s fifty day simple moving average is $10.22 and its 200-day simple moving average is $10.92. The company has a market capitalization of $1.64 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 0.48 and a beta of 1.30.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Pitney Bowes had a net margin of 4.14% and a negative return on equity of 38.38%. The firm had revenue of $459.68 million during the quarter, compared to analysts’ expectations of $467.45 million. During the same quarter last year, the firm earned $0.21 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PBI. Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. The Goldman Sachs Group initiated coverage on shares of Pitney Bowes in a research report on Monday, November 3rd. They issued a “neutral” rating and a $11.00 price target for the company. JMP Securities set a $13.00 target price on shares of Pitney Bowes in a research note on Wednesday, December 3rd. Citizens Jmp assumed coverage on Pitney Bowes in a report on Wednesday, December 3rd. They issued a “market outperform” rating and a $13.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pitney Bowes in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.