Intech Investment Management LLC Acquires 24,952 Shares of Pitney Bowes Inc. (NYSE:PBI)

Intech Investment Management LLC lifted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 39.2% during the third quarter, HoldingsChannel reports. The firm owned 88,639 shares of the technology company’s stock after acquiring an additional 24,952 shares during the quarter. Intech Investment Management LLC’s holdings in Pitney Bowes were worth $632,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PBI. Price T Rowe Associates Inc. MD raised its holdings in Pitney Bowes by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock worth $957,000 after buying an additional 8,305 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Pitney Bowes by 10.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 98,956 shares of the technology company’s stock worth $428,000 after acquiring an additional 9,222 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Pitney Bowes during the first quarter worth $764,000. SG Americas Securities LLC lifted its position in Pitney Bowes by 89.7% in the 2nd quarter. SG Americas Securities LLC now owns 45,657 shares of the technology company’s stock valued at $232,000 after acquiring an additional 21,594 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Pitney Bowes by 15.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after purchasing an additional 2,054 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

NYSE PBI opened at $8.06 on Friday. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80. The stock’s 50 day moving average price is $7.33 and its two-hundred day moving average price is $6.56. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.70, a PEG ratio of 1.43 and a beta of 1.97.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $499.46 million for the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. On average, equities research analysts forecast that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.48%. Pitney Bowes’s dividend payout ratio is -9.17%.

Insider Activity

In related news, Director Paul J. Evans acquired 29,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now owns 29,000 shares in the company, valued at $226,200. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Pitney Bowes Company 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.