Los Angeles Capital Management LLC Reduces Stock Holdings in Pitney Bowes Inc. $PBI

Los Angeles Capital Management LLC reduced its position in Pitney Bowes Inc. (NYSE:PBI) by 39.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,852 shares of the technology company’s stock after selling 84,102 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.08% of Pitney Bowes worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Pitney Bowes by 2.6% in the first quarter. Principal Financial Group Inc. now owns 788,203 shares of the technology company’s stock valued at $7,133,000 after purchasing an additional 19,830 shares during the period. Allworth Financial LP boosted its stake in Pitney Bowes by 16,831.5% during the first quarter. Allworth Financial LP now owns 21,503 shares of the technology company’s stock valued at $182,000 after buying an additional 21,376 shares during the period. Xponance Inc. grew its holdings in shares of Pitney Bowes by 186.6% during the first quarter. Xponance Inc. now owns 40,929 shares of the technology company’s stock worth $370,000 after purchasing an additional 26,646 shares in the last quarter. CWM LLC raised its stake in Pitney Bowes by 338.8% in the first quarter. CWM LLC now owns 25,514 shares of the technology company’s stock valued at $231,000 after purchasing an additional 19,700 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in Pitney Bowes in the first quarter valued at approximately $1,342,000. 67.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PBI. Weiss Ratings raised shares of Pitney Bowes from a “sell (d)” rating to a “hold (c)” rating in a report on Friday, November 7th. The Goldman Sachs Group began coverage on shares of Pitney Bowes in a report on Monday, November 3rd. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Wall Street Zen cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.00.

Insider Buying and Selling at Pitney Bowes

In related news, Director Brent D. Rosenthal bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average cost of $11.97 per share, for a total transaction of $35,910.00. Following the acquisition, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.00% of the company’s stock.

Pitney Bowes Stock Performance

Shares of PBI opened at $9.36 on Thursday. Pitney Bowes Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $13.11. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 0.57 and a beta of 1.27. The firm has a 50 day moving average price of $11.11 and a 200-day moving average price of $10.90.

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

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 10th will be issued 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 dividend yield of 3.8%. The ex-dividend date is Monday, November 10th. Pitney Bowes’s dividend payout ratio (DPR) is presently 80.00%.

Pitney Bowes announced that its Board of Directors has authorized a stock buyback plan on Wednesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.