Gagnon Securities LLC Raises Position in Pitney Bowes Inc. (PBI)
Gagnon Securities LLC lifted its stake in Pitney Bowes Inc. (NYSE:PBI) by 58.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,406 shares of the technology company’s stock after purchasing an additional 8,675 shares during the period. Gagnon Securities LLC’s holdings in Pitney Bowes were worth $328,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Vident Investment Advisory LLC acquired a new stake in shares of Pitney Bowes in the third quarter valued at approximately $472,000. Segall Bryant & Hamill LLC grew its holdings in Pitney Bowes by 15.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 614,431 shares of the technology company’s stock worth $8,608,000 after acquiring an additional 83,389 shares during the period. AMP Capital Investors Ltd grew its holdings in Pitney Bowes by 116.1% during the 3rd quarter. AMP Capital Investors Ltd now owns 60,951 shares of the technology company’s stock worth $854,000 after acquiring an additional 32,751 shares during the period. Engineers Gate Manager LP grew its holdings in Pitney Bowes by 56.6% during the 3rd quarter. Engineers Gate Manager LP now owns 152,890 shares of the technology company’s stock worth $2,142,000 after acquiring an additional 55,241 shares during the period. Finally, Sirios Capital Management L P acquired a new stake in Pitney Bowes during the 3rd quarter worth $45,044,000. 73.78% of the stock is owned by institutional investors and hedge funds.
PBI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. ValuEngine lowered shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Loop Capital lowered their target price on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Pitney Bowes currently has an average rating of “Hold” and a consensus target price of $14.50.
Pitney Bowes Inc. (NYSE PBI) traded up $0.04 on Monday, reaching $10.72. 1,601,600 shares of the company’s stock were exchanged, compared to its average volume of 2,703,514. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 35.49. Pitney Bowes Inc. has a 12-month low of $9.50 and a 12-month high of $16.60. The firm has a market cap of $2,001.72, a price-to-earnings ratio of 6.92 and a beta of 1.12.
Pitney Bowes (NYSE:PBI) last released its earnings results on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The business had revenue of $842.82 million for the quarter, compared to analyst estimates of $837.60 million. During the same period in the prior year, the firm posted $0.44 EPS. Pitney Bowes’s revenue was up .5% on a year-over-year basis. equities analysts forecast that Pitney Bowes Inc. will post 1.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 7.00%. Pitney Bowes’s dividend payout ratio is 156.25%.
Pitney Bowes Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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