LSV Asset Management Takes $13.81 Million Position in Pitney Bowes Inc. $PBI

LSV Asset Management bought a new position in Pitney Bowes Inc. (NYSE:PBI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,210,500 shares of the technology company’s stock, valued at approximately $13,812,000. LSV Asset Management owned about 0.75% of Pitney Bowes at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after buying an additional 1,015 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in Pitney Bowes in the second quarter valued at about $51,000. Canada Pension Plan Investment Board purchased a new position in Pitney Bowes in the second quarter worth about $51,000. United Services Automobile Association bought a new stake in shares of Pitney Bowes during the 1st quarter valued at about $96,000. Finally, Truist Financial Corp purchased a new stake in shares of Pitney Bowes during the 2nd quarter valued at about $123,000. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

Shares of NYSE:PBI opened at $10.27 on Friday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 0.48 and a beta of 1.41. The firm has a fifty day moving average price of $10.41 and a 200 day moving average price of $10.77. Pitney Bowes Inc. has a fifty-two week low of $7.39 and a fifty-two week high of $13.11.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PBI shares. Citizens Jmp started coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They issued a “market outperform” rating and a $13.00 price objective on the stock. JMP Securities set a $13.00 price target on shares of Pitney Bowes in a research note on Wednesday, December 3rd. Citigroup initiated coverage on shares of Pitney Bowes in a research report on Wednesday, December 3rd. They set an “outperform” rating for the company. Truist Financial began coverage on Pitney Bowes in a report on Friday, December 12th. They issued a “hold” rating and a $11.00 target price on the stock. Finally, Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Pitney Bowes presently has an average rating of “Moderate Buy” and an average price target of $12.00.

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.