Schroder Investment Management Group boosted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 28.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,729,145 shares of the technology company’s stock after buying an additional 380,200 shares during the period. Schroder Investment Management Group owned 0.93% of Pitney Bowes worth $26,421,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. increased its stake in Pitney Bowes by 9,828.4% during the 1st quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock worth $277,037,000 after buying an additional 20,918,761 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Pitney Bowes by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,271,892 shares of the technology company’s stock worth $140,005,000 after buying an additional 137,446 shares in the last quarter. LSV Asset Management increased its stake in Pitney Bowes by 4.8% during the 2nd quarter. LSV Asset Management now owns 4,203,966 shares of the technology company’s stock worth $63,479,000 after buying an additional 191,400 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Pitney Bowes by 37.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,780,498 shares of the technology company’s stock worth $23,342,000 after buying an additional 486,581 shares in the last quarter. Finally, Lapides Asset Management LLC increased its stake in Pitney Bowes by 95.2% during the 1st quarter. Lapides Asset Management LLC now owns 1,659,700 shares of the technology company’s stock worth $21,759,000 after buying an additional 809,400 shares in the last quarter. Institutional investors own 76.28% of the company’s stock.
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PBI has been the subject of several research reports. Zacks Investment Research upgraded Pitney Bowes from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday, May 23rd. Sidoti upgraded Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Wednesday, August 2nd. Loop Capital initiated coverage on Pitney Bowes in a research note on Friday, July 28th. They set a “hold” rating and a $16.00 price objective for the company. BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.50.
Shares of Pitney Bowes Inc. (NYSE:PBI) opened at 12.72 on Tuesday. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $18.43. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 24.99 and a beta of 1.20. The stock has a 50 day moving average price of $13.31 and a 200-day moving average price of $14.08.
Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, August 1st. The technology company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The firm had revenue of $821.40 million during the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities research analysts predict that Pitney Bowes Inc. will post $1.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.75 annualized dividend and a yield of 5.90%. Pitney Bowes’s payout ratio is currently 144.23%.
Pitney Bowes Company Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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