Teacher Retirement System of Texas Purchases 95,479 Shares of Pitney Bowes Inc. $PBI

Teacher Retirement System of Texas increased its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 54.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,408 shares of the technology company’s stock after purchasing an additional 95,479 shares during the period. Teacher Retirement System of Texas owned 0.15% of Pitney Bowes worth $2,961,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PBI. AlphaQuest LLC boosted its holdings in Pitney Bowes by 190.1% in the 2nd quarter. AlphaQuest LLC now owns 62,321 shares of the technology company’s stock worth $680,000 after buying an additional 40,842 shares during the period. First Citizens Bank & Trust Co. lifted its position in shares of Pitney Bowes by 195.4% in the second quarter. First Citizens Bank & Trust Co. now owns 81,197 shares of the technology company’s stock valued at $886,000 after acquiring an additional 53,708 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Pitney Bowes by 0.5% in the second quarter. New York State Teachers Retirement System now owns 257,827 shares of the technology company’s stock valued at $2,813,000 after acquiring an additional 1,246 shares in the last quarter. Capital Management Corp VA boosted its stake in shares of Pitney Bowes by 9.0% in the second quarter. Capital Management Corp VA now owns 2,161,580 shares of the technology company’s stock worth $23,583,000 after acquiring an additional 178,502 shares during the period. Finally, Atria Wealth Solutions Inc. raised its stake in Pitney Bowes by 4.8% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 89,472 shares of the technology company’s stock valued at $976,000 after purchasing an additional 4,132 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analyst Ratings Changes

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

Pitney Bowes Stock Performance

NYSE PBI opened at $9.90 on Friday. The stock has a 50 day moving average price of $11.54 and a 200-day moving average price of $10.82. Pitney Bowes Inc. has a one year low of $6.88 and a one year high of $13.11. The company has a market capitalization of $1.70 billion, a P/E ratio of 21.99, a P/E/G ratio of 0.57 and a beta of 1.27.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Pitney Bowes had a net margin of 4.14% and a negative return on equity of 40.31%. The business had revenue of $459.68 million for the quarter, compared to analysts’ expectations of $467.45 million. During the same period in the previous year, the company earned $0.21 EPS. Pitney Bowes’s revenue for the quarter was down 8.0% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, equities analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 10th will be given a $0.09 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, November 10th. Pitney Bowes’s dividend payout ratio (DPR) is -53.33%.

Pitney Bowes declared that its board has authorized a stock buyback plan on Wednesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 18.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Brent D. Rosenthal acquired 3,000 shares of Pitney Bowes stock in a transaction on Wednesday, September 3rd. The shares were bought at an average cost of $11.97 per share, with a total value of $35,910.00. Following the completion of the purchase, the director directly owned 3,000 shares of the company’s stock, valued at $35,910. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 9.00% of the company’s stock.

About Pitney Bowes

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.