Pitney Bowes Inc. (NYSE:PBI) Position Increased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its position in Pitney Bowes Inc. (NYSE:PBI) by 37.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 178,509 shares of the technology company’s stock after purchasing an additional 48,390 shares during the period. Texas Permanent School Fund Corp’s holdings in Pitney Bowes were worth $907,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Pitney Bowes by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock worth $10,754,000 after purchasing an additional 21,811 shares during the period. Hsbc Holdings PLC boosted its position in shares of Pitney Bowes by 58.2% in the fourth quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company’s stock worth $4,145,000 after buying an additional 349,599 shares during the period. Rhumbline Advisers boosted its position in shares of Pitney Bowes by 2.1% in the second quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock worth $2,581,000 after buying an additional 10,646 shares during the period. Steward Partners Investment Solutions LLC purchased a new position in shares of Pitney Bowes during the fourth quarter valued at $1,869,000. Finally, Contrarian Capital Management L.L.C. raised its position in Pitney Bowes by 2.1% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock valued at $1,078,000 after buying an additional 5,000 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 21st.

Pitney Bowes Stock Performance

Shares of PBI opened at $7.01 on Friday. The company has a market capitalization of $1.26 billion, a PE ratio of -3.23, a PEG ratio of 1.26 and a beta of 1.98. The company’s 50 day moving average price is $6.78 and its 200 day moving average price is $5.51. Pitney Bowes Inc. has a 52 week low of $2.87 and a 52 week high of $7.70.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. Pitney Bowes had a negative return on equity of 5.31% and a negative net margin of 8.05%. The firm had revenue of $793.17 million during the quarter, compared to analysts’ expectations of $771.65 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Pitney Bowes Inc. will post 0.35 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio is -9.22%.

About Pitney Bowes

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.