45,720 Shares in Pitney Bowes Inc. (NYSE:PBI) Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC acquired a new position in shares of Pitney Bowes Inc. (NYSE:PBI) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 45,720 shares of the technology company’s stock, valued at approximately $232,000.

Several other large investors have also recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. lifted its stake in Pitney Bowes by 6.7% in the second quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock valued at $162,000 after buying an additional 2,000 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after buying an additional 2,054 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Pitney Bowes by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock valued at $398,000 after buying an additional 2,300 shares during the last quarter. ProShare Advisors LLC lifted its stake in Pitney Bowes by 7.5% in the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock valued at $151,000 after buying an additional 2,440 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Pitney Bowes by 6.8% during the second quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock valued at $403,000 after purchasing an additional 5,073 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Pitney Bowes Stock Performance

Shares of PBI opened at $7.13 on Tuesday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -3.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.98. Pitney Bowes Inc. has a one year low of $3.03 and a one year high of $7.70. The stock’s fifty day moving average is $6.80 and its 200-day moving average is $5.63.

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

Pitney Bowes Announces Dividend

The firm also recently declared 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 2.81%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio (DPR) is -9.22%.

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.