Dupont Capital Management Corp Sells 5,500 Shares of Pitney Bowes Inc. (PBI)
Dupont Capital Management Corp lessened its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 28.0% during the 1st quarter, HoldingsChannel reports. The firm owned 14,118 shares of the technology company’s stock after selling 5,500 shares during the quarter. Dupont Capital Management Corp’s holdings in Pitney Bowes were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Retirement Systems of Alabama grew its holdings in shares of Pitney Bowes by 0.7% during the 1st quarter. Retirement Systems of Alabama now owns 245,046 shares of the technology company’s stock worth $1,683,000 after purchasing an additional 1,779 shares in the last quarter. Comerica Bank grew its holdings in shares of Pitney Bowes by 1.6% during the 4th quarter. Comerica Bank now owns 123,226 shares of the technology company’s stock worth $891,000 after purchasing an additional 1,994 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Pitney Bowes by 3.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,247 shares of the technology company’s stock worth $445,000 after purchasing an additional 2,242 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Pitney Bowes by 11.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,554 shares of the technology company’s stock worth $133,000 after purchasing an additional 2,279 shares in the last quarter. Finally, Kovack Advisors Inc. grew its holdings in shares of Pitney Bowes by 6.8% during the 4th quarter. Kovack Advisors Inc. now owns 37,274 shares of the technology company’s stock worth $220,000 after purchasing an additional 2,382 shares in the last quarter. 74.39% of the stock is currently owned by institutional investors.
Shares of NYSE:PBI opened at $4.99 on Thursday. Pitney Bowes Inc. has a 1-year low of $4.82 and a 1-year high of $9.71. The company has a market cap of $892.78 million, a PE ratio of 4.30 and a beta of 1.46. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 35.45.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 24th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.20 annualized dividend and a dividend yield of 4.01%. Pitney Bowes’s dividend payout ratio (DPR) is presently 17.24%.
Pitney Bowes declared that its board has approved a stock buyback program on Tuesday, February 5th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently weighed in on PBI. Maxim Group reissued a “buy” rating and set a $11.00 price objective on shares of Pitney Bowes in a report on Wednesday, April 24th. Zacks Investment Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a report on Thursday, February 7th. ValuEngine raised Pitney Bowes from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Northcoast Research lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a report on Wednesday, February 6th.
In related news, VP Stanley J. Sutula III bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $5.34 per share, for a total transaction of $26,700.00. Following the transaction, the vice president now directly owns 15,000 shares of the company’s stock, valued at $80,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert M. Dutkowsky bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $5.22 per share, with a total value of $52,200.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $52,200. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,600 shares of company stock valued at $99,492 in the last 90 days. 3.20% of the stock is owned by corporate insiders.
About Pitney Bowes
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.
Featured Article: Recession
Want to see what other hedge funds are holding PBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pitney Bowes Inc. (NYSE:PBI).
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.