BlackRock Inc. cut its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,516,241 shares of the technology company’s stock after selling 571,722 shares during the quarter. BlackRock Inc. owned 10.99% of Pitney Bowes worth $229,372,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Pitney Bowes during the 4th quarter valued at $120,000. NEXT Financial Group Inc increased its position in shares of Pitney Bowes by 2,155.1% during the 4th quarter. NEXT Financial Group Inc now owns 11,005 shares of the technology company’s stock valued at $123,000 after purchasing an additional 10,517 shares during the period. ETRADE Capital Management LLC acquired a new position in shares of Pitney Bowes during the 3rd quarter valued at $168,000. Flagship Harbor Advisors LLC acquired a new position in shares of Pitney Bowes during the 4th quarter valued at $151,000. Finally, Gagnon Securities LLC increased its position in shares of Pitney Bowes by 58.9% during the 3rd quarter. Gagnon Securities LLC now owns 23,406 shares of the technology company’s stock valued at $328,000 after purchasing an additional 8,675 shares during the period. Institutional investors own 76.07% of the company’s stock.
Several research firms have recently weighed in on PBI. Zacks Investment Research raised Pitney Bowes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 8th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Pitney Bowes currently has an average rating of “Hold” and a consensus price target of $14.50.
Shares of Pitney Bowes Inc. (NYSE PBI) opened at $12.54 on Thursday. The firm has a market capitalization of $2,340.00, a price-to-earnings ratio of 10.54 and a beta of 1.12. The company has a debt-to-equity ratio of 18.92, a quick ratio of 1.24 and a current ratio of 1.28. Pitney Bowes Inc. has a one year low of $9.50 and a one year high of $16.25.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. research analysts anticipate that Pitney Bowes Inc. will post 1.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend was Thursday, February 15th. Pitney Bowes’s dividend payout ratio is presently 63.03%.
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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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