New York State Teachers Retirement System Increases Position in Pitney Bowes Inc. $PBI

New York State Teachers Retirement System grew its stake in Pitney Bowes Inc. (NYSE:PBI) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 257,827 shares of the technology company’s stock after acquiring an additional 1,246 shares during the quarter. New York State Teachers Retirement System owned about 0.14% of Pitney Bowes worth $2,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Pitney Bowes by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company’s stock valued at $192,890,000 after acquiring an additional 151,353 shares during the period. Invesco Ltd. grew its stake in Pitney Bowes by 38.9% during the 1st quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company’s stock worth $26,415,000 after buying an additional 817,953 shares during the last quarter. Capital Management Corp VA grew its stake in Pitney Bowes by 9.0% during the 2nd quarter. Capital Management Corp VA now owns 2,161,580 shares of the technology company’s stock worth $23,583,000 after buying an additional 178,502 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Pitney Bowes during the 1st quarter worth $11,032,000. Finally, Hennessy Advisors Inc. purchased a new position in Pitney Bowes during the 2nd quarter worth $12,660,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Pitney Bowes in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Pitney Bowes Stock Performance

Shares of PBI opened at $11.67 on Wednesday. The stock has a 50-day moving average of $11.56 and a two-hundred day moving average of $10.63. Pitney Bowes Inc. has a one year low of $6.88 and a one year high of $13.11. The stock has a market cap of $2.01 billion, a P/E ratio of -19.44, a P/E/G ratio of 0.58 and a beta of 1.27.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The company had revenue of $461.91 million during the quarter, compared to analysts’ expectations of $475.92 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were issued a $0.08 dividend. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 2.7%. Pitney Bowes’s payout ratio is presently -53.33%.

Pitney Bowes declared that its Board of Directors has initiated 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 buy up to 18.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Brent D. Rosenthal acquired 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average price of $11.97 per share, with a total value of $35,910.00. Following the acquisition, the director directly owned 3,000 shares in the company, valued at $35,910. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.00% of the stock is currently owned by company insiders.

Pitney Bowes 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.