Wedbush Securities Inc. Sells 101,482 Shares of Pitney Bowes Inc. $PBI

Wedbush Securities Inc. lowered its holdings in Pitney Bowes Inc. (NYSE:PBI) by 72.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,243 shares of the technology company’s stock after selling 101,482 shares during the period. Wedbush Securities Inc.’s holdings in Pitney Bowes were worth $417,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new stake in shares of Pitney Bowes during the 1st quarter worth $11,032,000. Hennessy Advisors Inc. bought a new stake in shares of Pitney Bowes in the 2nd quarter worth approximately $12,660,000. Invesco Ltd. grew its holdings in Pitney Bowes by 38.9% during the first quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company’s stock valued at $26,415,000 after purchasing an additional 817,953 shares during the period. Deutsche Bank AG grew its holdings in Pitney Bowes by 493.1% during the first quarter. Deutsche Bank AG now owns 850,538 shares of the technology company’s stock valued at $7,697,000 after purchasing an additional 707,133 shares during the period. Finally, AQR Capital Management LLC increased its position in Pitney Bowes by 2,074.5% in the first quarter. AQR Capital Management LLC now owns 728,483 shares of the technology company’s stock worth $6,593,000 after buying an additional 694,982 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Insiders Place Their Bets

In other Pitney Bowes news, Director Brent D. Rosenthal purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average price of $11.97 per share, with a total value of $35,910.00. Following the completion of the purchase, the director directly owned 3,000 shares in the company, valued at $35,910. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.00% of the stock is owned by corporate insiders.

Pitney Bowes Stock Performance

Pitney Bowes stock opened at $9.45 on Wednesday. The stock has a fifty day moving average of $11.16 and a 200 day moving average of $10.91. Pitney Bowes Inc. has a one year low of $6.88 and a one year high of $13.11. The stock has a market cap of $1.52 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 0.57 and a beta of 1.27.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Pitney Bowes had a negative return on equity of 40.31% and a net margin of 4.14%.The business had revenue of $459.68 million during the quarter, compared to analysts’ expectations of $467.45 million. During the same period in the previous year, the business posted $0.21 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, sell-side analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes declared that its Board of Directors has approved a share buyback program on Wednesday, July 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 10th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 3.8%. Pitney Bowes’s dividend payout ratio is 80.00%.

Analyst Ratings Changes

Several research firms have recently weighed in on PBI. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. The Goldman Sachs Group assumed 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 on the stock. Finally, Weiss Ratings raised Pitney Bowes from a “sell (d)” rating to a “hold (c)” rating in a report on Friday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Pitney Bowes has an average rating of “Hold” and an average price target of $11.00.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.