Federated Hermes Inc. Has $403,000 Holdings in Pitney Bowes Inc. (NYSE:PBI)

Federated Hermes Inc. grew its holdings in Pitney Bowes Inc. (NYSE:PBI) by 6.8% during the second quarter, Holdings Channel.com reports. The firm owned 79,420 shares of the technology company’s stock after buying an additional 5,073 shares during the period. Federated Hermes Inc.’s holdings in Pitney Bowes were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PBI. Cutter & CO Brokerage Inc. increased its stake in Pitney Bowes by 6.7% in the 2nd 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 period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Pitney Bowes by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after acquiring an additional 2,054 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Pitney Bowes by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock valued at $398,000 after purchasing an additional 2,300 shares during the last quarter. ProShare Advisors LLC grew 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 purchasing an additional 2,440 shares in the last quarter. Finally, Contrarian Capital Management L.L.C. increased its position in Pitney Bowes by 2.1% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 5,000 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Stock Up 0.6 %

Shares of PBI opened at $7.06 on Tuesday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -3.25, a price-to-earnings-growth ratio of 1.26 and a beta of 1.98. The company’s fifty day moving average is $6.78 and its 200-day moving average is $5.55. Pitney Bowes Inc. has a 12 month low of $2.87 and a 12 month high of $7.70.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate 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 business’s 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. As a group, research analysts predict that Pitney Bowes Inc. will post 0.35 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.05 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.20 dividend on an annualized basis and a yield of 2.83%. Pitney Bowes’s payout ratio is currently -9.22%.

Wall Street Analysts Forecast Growth

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

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.