Intech Investment Management LLC Has $2.20 Million Stock Holdings in Pitney Bowes Inc. $PBI

Intech Investment Management LLC grew its holdings in Pitney Bowes Inc. (NYSE:PBI) by 3.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 201,506 shares of the technology company’s stock after purchasing an additional 6,197 shares during the quarter. Intech Investment Management LLC’s holdings in Pitney Bowes were worth $2,198,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PBI. Quantbot Technologies LP acquired a new stake in Pitney Bowes in the first quarter valued at about $36,000. United Services Automobile Association bought a new position in shares of Pitney Bowes in the first quarter worth about $96,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Pitney Bowes in the 1st quarter valued at approximately $98,000. Thompson Davis & CO. Inc. acquired a new stake in shares of Pitney Bowes in the 1st quarter valued at approximately $122,000. Finally, Truist Financial Corp bought a new stake in shares of Pitney Bowes during the 2nd quarter valued at approximately $123,000. 67.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pitney Bowes

In related news, Director Brent D. Rosenthal purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was 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 owned 3,000 shares in the company, valued at approximately $35,910. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PBI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a research note on Wednesday. Wall Street Zen downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Finally, The Goldman Sachs Group assumed coverage on Pitney Bowes in a report on Monday, November 3rd. They set a “neutral” rating and a $11.00 price objective on the stock. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.00.

Pitney Bowes Stock Performance

Shares of NYSE PBI opened at $9.39 on Friday. The firm has a 50 day moving average price of $10.78 and a two-hundred day moving average price of $10.90. The stock has a market cap of $1.51 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 0.57 and a beta of 1.27. Pitney Bowes Inc. has a 52-week low of $6.88 and a 52-week high of $13.11.

Pitney Bowes (NYSE:PBI) last issued its quarterly 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). The business had revenue of $459.68 million for the quarter, compared to analyst estimates of $467.45 million. Pitney Bowes had a negative return on equity of 40.31% and a net margin of 4.14%.Pitney Bowes’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. Analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

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

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 10th will be given a $0.09 dividend. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, November 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.8%. Pitney Bowes’s dividend payout ratio is presently 80.00%.

Pitney Bowes 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.