Intech Investment Management LLC Sells 329,705 Shares of Pitney Bowes Inc. $PBI

Intech Investment Management LLC trimmed its holdings in Pitney Bowes Inc. (NYSE:PBI) by 71.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 134,974 shares of the technology company’s stock after selling 329,705 shares during the quarter. Intech Investment Management LLC’s holdings in Pitney Bowes were worth $1,427,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,015 shares in the last quarter. Hantz Financial Services Inc. grew its position in Pitney Bowes by 190.9% in the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock worth $40,000 after acquiring an additional 2,459 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Pitney Bowes in the second quarter worth approximately $51,000. Copeland Capital Management LLC bought a new stake in Pitney Bowes in the fourth quarter worth approximately $65,000. Finally, United Services Automobile Association bought a new stake in Pitney Bowes in the first quarter worth approximately $96,000. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Stock Performance

Shares of PBI stock opened at $16.85 on Friday. Pitney Bowes Inc. has a 52-week low of $8.95 and a 52-week high of $17.13. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 0.75 and a beta of 1.63. The firm has a fifty day moving average of $14.20 and a 200-day moving average of $11.68.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company had revenue of $477.41 million during the quarter, compared to analysts’ expectations of $471.83 million. During the same quarter in the prior year, the company posted $0.33 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were paid a $0.01 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Pitney Bowes’s dividend payout ratio is currently 38.83%.

Insider Activity

In other news, CEO Kurt James Wolf sold 966,561 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total value of $14,092,459.38. Following the completion of the transaction, the chief executive officer owned 452,628 shares in the company, valued at approximately $6,599,316.24. This represents a 68.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah Pfeiffer sold 18,750 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.06, for a total transaction of $301,125.00. Following the completion of the transaction, the executive vice president owned 97,828 shares of the company’s stock, valued at approximately $1,571,117.68. This represents a 16.08% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,365,280 shares of company stock worth $34,252,541. 6.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on PBI shares. Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $9.50 to $16.50 in a research report on Monday, May 11th. Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Weiss Ratings upgraded shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Finally, Truist Financial boosted their price objective on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.43.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.