Thompson Davis & CO. Inc. Grows Stock Holdings in Pitney Bowes Inc. $PBI

Thompson Davis & CO. Inc. boosted its holdings in Pitney Bowes Inc. (NYSE:PBI) by 61.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,044 shares of the technology company’s stock after buying an additional 8,361 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Pitney Bowes were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PBI. Vanguard Group Inc. lifted its holdings in Pitney Bowes by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company’s stock worth $192,890,000 after buying an additional 151,353 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Pitney Bowes by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,012,086 shares of the technology company’s stock worth $43,777,000 after acquiring an additional 240,544 shares in the last quarter. Invesco Ltd. lifted its stake in Pitney Bowes by 38.9% during the first quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company’s stock worth $26,415,000 after purchasing an additional 817,953 shares during the last quarter. Permit Capital LLC boosted its holdings in Pitney Bowes by 18.8% in the second 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 in the last quarter. Finally, Capital Management Corp VA boosted its holdings in 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 valued at $23,583,000 after purchasing an additional 178,502 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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 dated Wednesday, September 3rd. The shares were acquired at an average price 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 approximately $35,910. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.00% of the company’s stock.

Pitney Bowes Price Performance

Shares of NYSE:PBI opened at $9.26 on Friday. Pitney Bowes Inc. has a 1-year low of $6.88 and a 1-year high of $13.11. The stock has a market cap of $1.49 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.57 and a beta of 1.27. The firm has a fifty day moving average price of $11.05 and a 200 day moving average price of $10.88.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Wednesday, October 29th. The technology company reported $0.31 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 during the quarter, compared to analysts’ expectations of $467.45 million. During the same period in the previous year, the company posted $0.21 earnings per share. Pitney Bowes’s quarterly revenue was down 8.0% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. Sell-side analysts expect that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

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

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. Pitney Bowes’s payout ratio is 80.00%.

Wall Street Analysts Forecast Growth

PBI has been the topic of a number of research analyst reports. 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 research note on Monday, November 3rd. They set a “neutral” rating and a $11.00 price target on the stock. Finally, Wall Street Zen cut shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

Pitney Bowes Company 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.