Pitney Bowes Inc. (NYSE:PBI) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in Pitney Bowes Inc. (NYSE:PBI) by 7.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 342,425 shares of the technology company’s stock after buying an additional 24,078 shares during the period. Public Sector Pension Investment Board’s holdings in Pitney Bowes were worth $1,740,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Pitney Bowes in the second quarter worth about $48,000. William Howard & Co Financial Advisors Inc acquired a new stake in shares of Pitney Bowes during the first quarter worth about $52,000. SageView Advisory Group LLC acquired a new stake in shares of Pitney Bowes during the first quarter worth about $57,000. Envestnet Portfolio Solutions Inc. lifted 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 purchasing an additional 2,054 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Pitney Bowes by 3,412.2% in the second quarter. Fifth Third Bancorp now owns 16,648 shares of the technology company’s stock valued at $85,000 after acquiring an additional 16,174 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Trading Up 0.3 %

Shares of NYSE:PBI opened at $7.13 on Tuesday. Pitney Bowes Inc. has a 12-month low of $3.03 and a 12-month high of $7.70. The company has a market capitalization of $1.28 billion, a PE ratio of -3.29, a PEG ratio of 1.36 and a beta of 1.98. The business has a 50 day moving average of $6.80 and a two-hundred day moving average of $5.63.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results 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. The company had revenue of $793.17 million during the quarter, compared to the consensus estimate of $771.65 million. Pitney Bowes had a negative return on equity of 5.31% and a negative net margin of 8.05%. Pitney Bowes’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. Equities research analysts predict that Pitney Bowes Inc. will post 0.35 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s payout ratio is -9.22%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded 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.