Teacher Retirement System of Texas increased its stake in Pitney Bowes Inc. (NYSE:PBI) by 10.7% during the second quarter, Holdings Channel reports. The firm owned 26,802 shares of the company’s stock after buying an additional 2,594 shares during the period. Teacher Retirement System of Texas’ holdings in Pitney Bowes were worth $477,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. LS Investment Advisors LLC boosted its position in Pitney Bowes by 1.7% in the second quarter. LS Investment Advisors LLC now owns 12,989 shares of the company’s stock valued at $231,000 after buying an additional 213 shares in the last quarter. Commonwealth Equity Services Inc boosted its position in Pitney Bowes by 1.3% in the first quarter. Commonwealth Equity Services Inc now owns 20,180 shares of the company’s stock valued at $435,000 after buying an additional 268 shares in the last quarter. Cadence Capital Management LLC boosted its position in Pitney Bowes by 1.3% in the second quarter. Cadence Capital Management LLC now owns 29,234 shares of the company’s stock valued at $520,000 after buying an additional 374 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Pitney Bowes by 1.5% in the first quarter. Meeder Asset Management Inc. now owns 27,427 shares of the company’s stock valued at $591,000 after buying an additional 418 shares in the last quarter. Finally, Jensen Investment Management Inc. boosted its position in Pitney Bowes by 2.4% in the second quarter. Jensen Investment Management Inc. now owns 22,480 shares of the company’s stock valued at $400,000 after buying an additional 530 shares in the last quarter. Institutional investors own 82.13% of the company’s stock.
Shares of Pitney Bowes Inc. (NYSE:PBI) traded down 0.23% during mid-day trading on Thursday, hitting $17.68. The company had a trading volume of 259,948 shares. The stock’s 50-day moving average is $18.18 and its 200-day moving average is $18.92. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 12.00 and a beta of 1.36. Pitney Bowes Inc. has a 52-week low of $16.24 and a 52-week high of $21.81.
Pitney Bowes (NYSE:PBI) last issued its earnings results on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. Pitney Bowes had a return on equity of 254.58% and a net margin of 8.63%. The company earned $836 million during the quarter, compared to the consensus estimate of $852.46 million. During the same period in the previous year, the firm posted $0.45 earnings per share. Pitney Bowes’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities analysts forecast that Pitney Bowes Inc. will post $1.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were paid a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.75 dividend on an annualized basis and a yield of 4.23%. Pitney Bowes’s payout ratio is currently 51.37%.
Separately, Zacks Investment Research raised Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Wednesday, September 14th.
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.
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