Dynamic Technology Lab Private Ltd bought a new stake in Pitney Bowes Inc. (NYSE:PBI) during the second quarter, Holdings Channel reports. The institutional investor bought 18,539 shares of the company’s stock, valued at approximately $330,000.
Several other hedge funds have also added to or reduced their stakes in PBI. Norges Bank acquired a new stake in Pitney Bowes during the fourth quarter valued at approximately $40,257,000. Americafirst Capital Management LLC acquired a new stake in Pitney Bowes during the second quarter valued at approximately $111,000. UBS Group AG increased its stake in Pitney Bowes by 11.8% in the first quarter. UBS Group AG now owns 112,438 shares of the company’s stock valued at $2,422,000 after buying an additional 11,900 shares during the period. BlackRock Group LTD increased its stake in Pitney Bowes by 4.0% in the first quarter. BlackRock Group LTD now owns 892,998 shares of the company’s stock valued at $19,236,000 after buying an additional 34,667 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Pitney Bowes during the first quarter valued at approximately $2,120,000. 82.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pitney Bowes Inc. (NYSE:PBI) opened at 17.82 on Wednesday. Pitney Bowes Inc. has a 12-month low of $16.24 and a 12-month high of $21.81. The stock has a market capitalization of $3.31 billion, a P/E ratio of 12.10 and a beta of 1.32. The stock has a 50 day moving average of $18.28 and a 200 day moving average of $19.03.
Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, August 2nd. The company reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $836 million for the quarter, compared to analysts’ expectations of $852.46 million. Pitney Bowes had a net margin of 8.63% and a return on equity of 254.58%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Pitney Bowes Inc. will post $1.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were issued a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.75 annualized dividend and a yield of 4.24%. Pitney Bowes’s dividend payout ratio (DPR) is 51.37%.
Separately, Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th.
Pitney Bowes Company 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 clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
Want to see what other hedge funds are holding PBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pitney Bowes Inc. (NYSE:PBI).
Receive News & Ratings for Pitney Bowes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.