Louisiana State Employees Retirement System Makes New Investment in Pitney Bowes Inc. $PBI

Louisiana State Employees Retirement System purchased a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 65,700 shares of the technology company’s stock, valued at approximately $726,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Management Corp VA raised its stake in shares of Pitney Bowes by 25.3% during the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock worth $30,974,000 after purchasing an additional 592,568 shares in the last quarter. TABR Capital Management LLC acquired a new position in Pitney Bowes in the fourth quarter worth approximately $807,000. WINTON GROUP Ltd raised its position in Pitney Bowes by 3,377.0% during the third quarter. WINTON GROUP Ltd now owns 473,223 shares of the technology company’s stock valued at $5,399,000 after acquiring an additional 459,613 shares in the last quarter. Solidarity Wealth LLC acquired a new stake in Pitney Bowes in the fourth quarter valued at approximately $6,236,000. Finally, Cannell & Spears LLC lifted its stake in Pitney Bowes by 89.5% in the third quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock valued at $38,389,000 after acquiring an additional 1,588,579 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Stock Up 0.1%

NYSE PBI traded up $0.01 during trading on Tuesday, hitting $16.81. The company’s stock had a trading volume of 38,623 shares, compared to its average volume of 2,899,822. Pitney Bowes Inc. has a 52 week low of $8.95 and a 52 week high of $18.25. The firm has a market cap of $2.28 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.62. The firm has a 50 day moving average price of $16.41 and a 200 day moving average price of $12.79.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The business had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Pitney Bowes’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is presently 38.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $9.50 to $16.50 in a research note on Monday, May 11th. Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Citigroup reaffirmed a “market outperform” rating on shares of Pitney Bowes in a research report on Tuesday, June 16th. Citizens Jmp boosted their price objective on shares of Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Friday, June 5th. Finally, Weiss Ratings raised shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.43.

Insider Buying and Selling

In related news, EVP Deborah Pfeiffer sold 18,750 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.06, for a total value of $301,125.00. Following the completion of the transaction, the executive vice president directly owned 97,828 shares in the company, valued at approximately $1,571,117.68. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kurt James Wolf sold 322,829 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.40, for a total value of $5,617,224.60. Following the completion of the transaction, the chief executive officer directly owned 264,922 shares of the company’s stock, valued at approximately $4,609,642.80. This trade represents a 54.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,829,889 shares of company stock worth $44,443,606. 6.50% of the stock is currently owned by company insiders.

Pitney Bowes 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.