Vanguard Group Inc Raises Position in Pitney Bowes Inc. (PBI)
Vanguard Group Inc raised its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 1.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,450,313 shares of the technology company’s stock after buying an additional 165,880 shares during the period. Vanguard Group Inc owned about 9.30% of Pitney Bowes worth $123,548,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of PBI. Marshall Wace LLP purchased a new stake in Pitney Bowes in the 3rd quarter worth approximately $445,000. Vanguard Group Inc. lifted its position in Pitney Bowes by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,450,313 shares of the technology company’s stock worth $123,548,000 after buying an additional 165,880 shares in the last quarter. Morgan Stanley lifted its position in Pitney Bowes by 18.2% in the 3rd quarter. Morgan Stanley now owns 1,370,690 shares of the technology company’s stock worth $9,705,000 after buying an additional 211,019 shares in the last quarter. Legal & General Group Plc lifted its position in Pitney Bowes by 3.2% in the 3rd quarter. Legal & General Group Plc now owns 331,866 shares of the technology company’s stock worth $2,350,000 after buying an additional 10,270 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in Pitney Bowes by 5.5% in the 3rd quarter. Teachers Advisors LLC now owns 375,122 shares of the technology company’s stock worth $2,656,000 after buying an additional 19,630 shares in the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.
PBI has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Maxim Group set a $12.00 price target on shares of Pitney Bowes and gave the company a “buy” rating in a report on Tuesday, October 23rd.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Thursday, November 1st. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $832.86 million for the quarter, compared to the consensus estimate of $852.67 million. Pitney Bowes had a net margin of 7.21% and a return on equity of 108.12%. Pitney Bowes’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, research analysts expect that Pitney Bowes Inc. will post 1.16 EPS for the current year.
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About Pitney Bowes
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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