AlphaQuest LLC Buys 40,842 Shares of Pitney Bowes Inc. $PBI

AlphaQuest LLC boosted its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 190.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,321 shares of the technology company’s stock after purchasing an additional 40,842 shares during the quarter. AlphaQuest LLC’s holdings in Pitney Bowes were worth $680,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Trail Ridge Investment Advisors LLC bought a new stake in Pitney Bowes during the first quarter worth approximately $267,000. Cambridge Investment Research Advisors Inc. boosted its position in Pitney Bowes by 8.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company’s stock worth $547,000 after purchasing an additional 4,866 shares during the period. Vanguard Group Inc. boosted its position in shares of Pitney Bowes by 0.7% in the first quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company’s stock valued at $192,890,000 after acquiring an additional 151,353 shares during the period. Xponance Inc. boosted its position in shares of Pitney Bowes by 186.6% in the first quarter. Xponance Inc. now owns 40,929 shares of the technology company’s stock valued at $370,000 after acquiring an additional 26,646 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Pitney Bowes in the first quarter valued at approximately $5,322,000. Institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PBI. Weiss Ratings reissued a “sell (d)” rating on shares of Pitney Bowes in a research report on Wednesday, October 8th. Wall Street Zen cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Insider Activity

In related news, Director Brent D. Rosenthal acquired 3,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was bought at an average cost of $11.97 per share, with a total value of $35,910.00. Following the completion of the acquisition, the director owned 3,000 shares in the company, valued at $35,910. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.00% of the company’s stock.

Pitney Bowes Price Performance

Shares of PBI stock opened at $11.87 on Tuesday. The stock has a market cap of $2.04 billion, a P/E ratio of -19.78, a price-to-earnings-growth ratio of 0.60 and a beta of 1.27. Pitney Bowes Inc. has a one year low of $6.88 and a one year high of $13.11. The stock has a fifty day moving average price of $11.60 and a 200 day moving average price of $10.75.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $461.91 million during the quarter, compared to analysts’ expectations of $475.92 million. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The business’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the business earned $0.03 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Equities research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 11th. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.7%. Pitney Bowes’s dividend payout ratio (DPR) is -53.33%.

Pitney Bowes declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Pitney Bowes Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.