Capital Management Corp VA decreased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,529,478 shares of the technology company's stock after selling 192,030 shares during the quarter. Pitney Bowes accounts for approximately 3.3% of Capital Management Corp VA's holdings, making the stock its 8th biggest position. Capital Management Corp VA owned approximately 1.39% of Pitney Bowes worth $18,313,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PBI. Smartleaf Asset Management LLC raised its holdings in Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock worth $37,000 after acquiring an additional 2,873 shares during the period. Quarry LP grew its stake in shares of Pitney Bowes by 889.2% during the third quarter. Quarry LP now owns 8,319 shares of the technology company's stock valued at $59,000 after purchasing an additional 7,478 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Pitney Bowes in the third quarter worth about $86,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Pitney Bowes by 101.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,340 shares of the technology company's stock valued at $117,000 after purchasing an additional 8,221 shares during the period. Finally, James J. Burns & Company LLC raised its holdings in Pitney Bowes by 9.7% in the fourth quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company's stock worth $135,000 after purchasing an additional 1,637 shares during the period. Hedge funds and other institutional investors own 67.88% of the company's stock.
Pitney Bowes Price Performance
PBI traded up $0.21 during trading on Wednesday, hitting $9.35. 1,913,311 shares of the stock traded hands, compared to its average volume of 2,604,116. Pitney Bowes Inc. has a twelve month low of $3.90 and a twelve month high of $11.01. The business has a 50 day moving average price of $8.89 and a 200 day moving average price of $7.85. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -8.35, a PEG ratio of 0.59 and a beta of 2.02.
Pitney Bowes (NYSE:PBI - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. On average, equities research analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.
Pitney Bowes Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be given a dividend of $0.06 per share. The ex-dividend date is Friday, February 21st. This represents a $0.24 annualized dividend and a dividend yield of 2.57%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's dividend payout ratio is currently -21.43%.
Insiders Place Their Bets
In related news, EVP Deborah Pfeiffer sold 35,000 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares in the company, valued at $1,119,598.48. The trade was a 22.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kurt James Wolf sold 1,250,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00. Following the completion of the sale, the director now directly owns 622,250 shares of the company's stock, valued at approximately $6,010,935. This represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,974,484 shares of company stock worth $19,815,631 in the last quarter. 14.30% of the stock is owned by company insiders.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research note on Monday, March 3rd.
Get Our Latest Stock Report on Pitney Bowes
Pitney Bowes Company Profile
(
Free Report)
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.
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