Capital Management Corp VA Decreases Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Capital Management Corp VA lowered its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 34.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,721,508 shares of the technology company's stock after selling 1,437,494 shares during the period. Pitney Bowes accounts for 3.4% of Capital Management Corp VA's holdings, making the stock its 7th biggest position. Capital Management Corp VA owned about 1.52% of Pitney Bowes worth $19,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PBI. nVerses Capital LLC bought a new stake in shares of Pitney Bowes during the 2nd quarter worth approximately $48,000. William Howard & Co Financial Advisors Inc acquired a new stake in Pitney Bowes during the 1st quarter valued at $52,000. SageView Advisory Group LLC acquired a new stake in Pitney Bowes during the 1st quarter valued at $57,000. Point72 DIFC Ltd lifted its holdings in Pitney Bowes by 218.0% during the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company's stock valued at $58,000 after purchasing an additional 7,819 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted 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 valued at $77,000 after purchasing an additional 2,054 shares during the last quarter. Institutional investors own 67.88% of the company's stock.

Pitney Bowes Price Performance

Pitney Bowes stock traded up $0.02 during mid-day trading on Tuesday, hitting $7.50. 2,555,981 shares of the company's stock traded hands, compared to its average volume of 1,722,436. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -4.99, a P/E/G ratio of 1.37 and a beta of 1.97. The firm has a 50 day simple moving average of $6.98 and a two-hundred day simple moving average of $6.16. Pitney Bowes Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $7.70.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. The firm had revenue of $793.17 million for 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 company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) EPS. On average, research analysts anticipate that Pitney Bowes Inc. will post 0.35 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The company also recently disclosed 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. This represents a $0.20 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes's payout ratio is -13.33%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report 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.