Marc Bradley Lautenbach Acquires 4,739 Shares of Pitney Bowes Inc. (PBI) Stock
Pitney Bowes Inc. (NYSE:PBI) insider Marc Bradley Lautenbach bought 4,739 shares of the business’s stock in a transaction on Wednesday, November 2nd. The stock was bought at an average price of $14.76 per share, for a total transaction of $69,947.64. Following the completion of the acquisition, the insider now owns 80,937 shares in the company, valued at approximately $1,194,630.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Pitney Bowes Inc. (NYSE:PBI) opened at 14.24 on Monday. Pitney Bowes Inc. has a one year low of $14.22 and a one year high of $21.81. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 10.43 and a beta of 1.45. The stock’s 50 day moving average price is $17.32 and its 200-day moving average price is $18.31.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business earned $839 million during the quarter, compared to the consensus estimate of $851.82 million. Pitney Bowes had a return on equity of 256.96% and a net margin of 8.02%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, equities research analysts anticipate that Pitney Bowes Inc. will post $1.73 earnings per share for the current fiscal year.
PBI has been the topic of a number of recent research reports. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Wednesday, September 14th. TheStreet lowered Pitney Bowes from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Finally, Brean Capital reissued a “buy” rating and set a $20.00 price target (down from $24.00) on shares of Pitney Bowes in a report on Wednesday, November 2nd.
Hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. boosted its stake in Pitney Bowes by 31.7% in the second quarter. Alps Advisors Inc. now owns 1,435,713 shares of the company’s stock worth $25,556,000 after buying an additional 345,868 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in Pitney Bowes during the second quarter worth about $111,000. UBS Group AG boosted its stake in Pitney Bowes by 11.8% in the first quarter. UBS Group AG now owns 112,438 shares of the company’s stock worth $2,422,000 after buying an additional 11,900 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Pitney Bowes by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 1,913,733 shares of the company’s stock worth $34,066,000 after buying an additional 7,483 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Pitney Bowes during the second quarter worth about $452,000. Institutional investors and hedge funds own 82.21% of the company’s stock.
About Pitney Bowes
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence, and customer engagement products and solutions to help clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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