Pitney Bowes Inc. (PBI) Shares Bought by LSV Asset Management
LSV Asset Management boosted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,203,966 shares of the technology company’s stock after buying an additional 191,400 shares during the period. LSV Asset Management owned approximately 2.25% of Pitney Bowes worth $63,479,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of PBI. BlackRock Inc. boosted its stake in Pitney Bowes by 9,828.4% during the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock valued at $277,037,000 after buying an additional 20,918,761 shares during the period. Prudential Financial Inc. boosted its stake in Pitney Bowes by 344.5% during the second quarter. Prudential Financial Inc. now owns 1,482,000 shares of the technology company’s stock valued at $22,378,000 after buying an additional 1,148,594 shares during the period. KBC Group NV bought a new stake in Pitney Bowes during the first quarter valued at $12,503,000. Renaissance Technologies LLC boosted its stake in Pitney Bowes by 149.0% during the first quarter. Renaissance Technologies LLC now owns 1,414,026 shares of the technology company’s stock valued at $18,538,000 after buying an additional 846,126 shares during the period. Finally, Lapides Asset Management LLC boosted its stake in Pitney Bowes by 95.2% during the first quarter. Lapides Asset Management LLC now owns 1,659,700 shares of the technology company’s stock valued at $21,759,000 after buying an additional 809,400 shares during the period. 76.28% of the stock is owned by institutional investors.
Shares of Pitney Bowes Inc. (NYSE PBI) opened at 12.62 on Friday. The firm’s 50-day moving average price is $13.37 and its 200 day moving average price is $14.07. Pitney Bowes Inc. has a 52 week low of $12.31 and a 52 week high of $18.24. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 24.79 and a beta of 1.20.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.03. The firm had revenue of $821.40 million for the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, equities research analysts forecast that Pitney Bowes Inc. will post $1.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be given a dividend of $0.1875 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.94%. Pitney Bowes’s payout ratio is 144.23%.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Friday, May 12th. Loop Capital assumed 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. Sidoti lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $17.50.
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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