State of Alaska Department of Revenue purchased a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 10,800 shares of the technology company’s stock, valued at approximately $120,000.
A number of other institutional investors have also modified their holdings of PBI. Sirios Capital Management L P acquired a new stake in Pitney Bowes during the 3rd quarter worth about $45,044,000. Miller Howard Investments Inc. NY grew its holdings in Pitney Bowes by 32.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock worth $71,351,000 after acquiring an additional 1,259,978 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Pitney Bowes by 93.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,110,043 shares of the technology company’s stock valued at $31,863,000 after buying an additional 1,019,942 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Pitney Bowes in the 3rd quarter valued at about $11,208,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Pitney Bowes by 113.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 868,532 shares of the technology company’s stock valued at $12,166,000 after buying an additional 461,740 shares during the period. Hedge funds and other institutional investors own 70.45% of the company’s stock.
PBI has been the subject of several research reports. Zacks Investment Research upgraded Pitney Bowes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 8th. ValuEngine downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Loop Capital reduced their target price on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $14.50.
Pitney Bowes (NYSE:PBI) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Pitney Bowes had a return on equity of 379.85% and a net margin of 7.36%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. analysts anticipate that Pitney Bowes Inc. will post 1.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, February 15th. This represents a $0.75 annualized dividend and a dividend yield of 6.16%. Pitney Bowes’s dividend payout ratio is presently 53.57%.
ILLEGAL ACTIVITY WARNING: “State of Alaska Department of Revenue Purchases New Holdings in Pitney Bowes Inc. (PBI)” was published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://sportsperspectives.com/2018/02/10/state-of-alaska-department-of-revenue-purchases-new-holdings-in-pitney-bowes-inc-pbi.html.
Pitney Bowes 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.
Receive News & Ratings for Pitney Bowes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes and related companies with MarketBeat.com's FREE daily email newsletter.