Pitney Bowes (NYSE:PBI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Pitney Bowes (NYSE:PBI - Free Report) from a buy rating to a strong-buy rating in a research report released on Monday.

Pitney Bowes Trading Down 2.6 %

Pitney Bowes stock traded down $0.26 during trading hours on Monday, reaching $9.52. 2,579,478 shares of the company were exchanged, compared to its average volume of 2,613,190. Pitney Bowes has a 12 month low of $3.90 and a 12 month high of $11.01. The stock has a 50-day moving average of $8.77 and a 200 day moving average of $7.80. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -8.50, a PEG ratio of 0.59 and a beta of 2.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Pitney Bowes will post 1.21 EPS for the current year.

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Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Pitney Bowes's previous quarterly dividend of $0.05. Pitney Bowes's payout ratio is currently -21.43%.

Insider Buying and Selling at Pitney Bowes

In related news, EVP James Arthur Fairweather sold 130,000 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the completion of the transaction, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. This represents a 42.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kurt James Wolf sold 481,199 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.77, for a total transaction of $5,182,513.23. Following the completion of the sale, the director now directly owns 584,636 shares of the company's stock, valued at approximately $6,296,529.72. This trade represents a 45.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,974,484 shares of company stock valued at $19,815,631 in the last 90 days. 14.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PBI. Meeder Asset Management Inc. acquired a new stake in Pitney Bowes during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC lifted its position in shares of 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 holdings in shares of Pitney Bowes by 889.2% during the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company's stock worth $59,000 after purchasing an additional 7,478 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Pitney Bowes during the third quarter valued at approximately $86,000. Finally, Xponance Inc. raised its stake in shares of Pitney Bowes by 36.7% in the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock valued at $103,000 after purchasing an additional 3,837 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.

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.