Intech Investment Management LLC Takes $324,000 Position in Pitney Bowes Inc. (NYSE:PBI)

Intech Investment Management LLC acquired a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 63,687 shares of the technology company’s stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cutter & CO Brokerage Inc. increased its position in shares of Pitney Bowes by 6.7% during the second quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock worth $162,000 after purchasing an additional 2,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake 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 buying an additional 2,054 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Pitney Bowes by 3.0% during the 2nd 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 in the last quarter. ProShare Advisors LLC raised 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. boosted its holdings in Pitney Bowes by 6.8% in the second quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock worth $403,000 after acquiring an additional 5,073 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pitney Bowes Trading Down 0.1 %

NYSE PBI opened at $7.11 on Friday. Pitney Bowes Inc. has a 12-month low of $2.94 and a 12-month high of $7.70. The company has a fifty day simple moving average of $6.79 and a two-hundred day simple moving average of $5.59. The stock has a market cap of $1.27 billion, a P/E ratio of -3.28, a P/E/G ratio of 1.34 and a beta of 1.98.

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

Pitney Bowes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.20 annualized dividend and a yield of 2.81%. Pitney Bowes’s dividend payout ratio (DPR) is presently -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.