Pitney Bowes Inc. $PBI Stock Position Boosted by Capital Management Corp VA

Capital Management Corp VA increased its position in Pitney Bowes Inc. (NYSE:PBI) by 8.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,337,760 shares of the technology company’s stock after acquiring an additional 176,180 shares during the quarter. Pitney Bowes comprises approximately 4.2% of Capital Management Corp VA’s investment portfolio, making the stock its 4th largest holding. Capital Management Corp VA’s holdings in Pitney Bowes were worth $26,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in shares of Pitney Bowes during the 2nd quarter worth $12,660,000. Mizuho Markets Americas LLC purchased a new stake in Pitney Bowes in the third quarter worth about $7,683,000. Evergreen Wealth Management LLC bought a new position in Pitney Bowes during the 3rd quarter worth about $6,691,000. Brandywine Global Investment Management LLC bought a new position in Pitney Bowes during the 2nd quarter worth about $5,889,000. Finally, Permit Capital LLC increased its position in Pitney Bowes by 18.8% during the 2nd quarter. Permit Capital LLC now owns 2,850,000 shares of the technology company’s stock valued at $31,094,000 after purchasing an additional 450,000 shares during the period. 67.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

PBI has been the subject of several research reports. Citigroup started coverage on shares of Pitney Bowes in a research report on Wednesday, December 3rd. They issued an “outperform” rating for the company. Citizens Jmp assumed coverage on shares of Pitney Bowes in a research note on Wednesday, December 3rd. They issued a “market outperform” rating and a $13.00 price objective for the company. Truist Financial initiated coverage on Pitney Bowes in a report on Friday, December 12th. They set a “hold” rating and a $11.00 target price for the company. JMP Securities set a $13.00 target price on Pitney Bowes in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Pitney Bowes presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Pitney Bowes Stock Up 1.8%

Shares of PBI opened at $10.43 on Friday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 0.48 and a beta of 1.30. Pitney Bowes Inc. has a twelve month low of $7.39 and a twelve month high of $13.11. The company has a 50 day moving average of $10.27 and a two-hundred day moving average of $10.89.

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 the consensus estimate of $0.32 by ($0.01). Pitney Bowes had a negative return on equity of 38.38% and a net margin of 4.14%.The firm had revenue of $459.68 million during the quarter, compared to analysts’ expectations of $467.45 million. During the same period in the prior year, the firm posted $0.21 earnings per share. Pitney Bowes’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current year.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.