AMP Capital Investors Ltd lifted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 116.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,951 shares of the technology company’s stock after purchasing an additional 32,751 shares during the quarter. AMP Capital Investors Ltd’s holdings in Pitney Bowes were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY increased its position in Pitney Bowes by 32.9% during the third quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock valued at $71,351,000 after acquiring an additional 1,259,978 shares during the last quarter. LSV Asset Management increased its position in Pitney Bowes by 4.8% during the second quarter. LSV Asset Management now owns 4,203,966 shares of the technology company’s stock valued at $63,479,000 after acquiring an additional 191,400 shares during the last quarter. Sirios Capital Management L P purchased a new stake in Pitney Bowes during the third quarter valued at $45,044,000. Dimensional Fund Advisors LP increased its position in Pitney Bowes by 13.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,389,740 shares of the technology company’s stock valued at $33,480,000 after acquiring an additional 279,697 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in Pitney Bowes by 22.2% during the third quarter. Schroder Investment Management Group now owns 2,113,354 shares of the technology company’s stock valued at $29,481,000 after acquiring an additional 384,209 shares during the last quarter. 73.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pitney Bowes Inc. (NYSE PBI) traded down $0.18 during trading on Friday, reaching $13.18. The company had a trading volume of 4,301,942 shares, compared to its average volume of 1,962,176. Pitney Bowes Inc. has a 52 week low of $9.50 and a 52 week high of $16.60. The company has a market capitalization of $2,494.69, a price-to-earnings ratio of 27.46 and a beta of 1.11. The company has a debt-to-equity ratio of 35.49, a quick ratio of 1.37 and a current ratio of 1.42.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The company had revenue of $842.82 million for the quarter, compared to analysts’ expectations of $837.60 million. During the same quarter last year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. sell-side analysts predict that Pitney Bowes Inc. will post 1.38 earnings per share for the current year.
A number of analysts have commented on PBI shares. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “strong sell” rating in a research report on Monday, November 6th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Loop Capital dropped their price objective on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $14.50.
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 its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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