Wedge Capital Management L L P NC Purchases 55,856 Shares of Pitney Bowes Inc. $PBI

Wedge Capital Management L L P NC grew its holdings in Pitney Bowes Inc. (NYSE:PBI) by 34.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 218,124 shares of the technology company’s stock after buying an additional 55,856 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Pitney Bowes were worth $2,489,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PBI. State Street Corp increased its stake in Pitney Bowes by 3.1% in the second quarter. State Street Corp now owns 6,366,188 shares of the technology company’s stock valued at $69,455,000 after acquiring an additional 188,886 shares during the period. Geode Capital Management LLC boosted its holdings in Pitney Bowes by 6.4% during the second quarter. Geode Capital Management LLC now owns 4,012,086 shares of the technology company’s stock valued at $43,777,000 after purchasing an additional 240,544 shares in the last quarter. Permit Capital LLC grew its stake in shares of Pitney Bowes by 18.8% in the 2nd 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 during the period. Capital Management Corp VA raised its holdings in shares of Pitney Bowes by 9.0% in 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pitney Bowes by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,584,850 shares of the technology company’s stock worth $17,291,000 after buying an additional 65,239 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PBI shares. Citizens Jmp initiated coverage on Pitney Bowes in a research note on Wednesday, December 3rd. They set a “market outperform” rating and a $13.00 price objective for the company. Citigroup started coverage on shares of Pitney Bowes in a research report on Wednesday, December 3rd. They set an “outperform” rating for the company. JMP Securities set a $13.00 price target on shares of Pitney Bowes in a research report on Wednesday, December 3rd. Truist Financial initiated coverage on shares of Pitney Bowes in a research note on Friday, December 12th. They set a “hold” rating and a $11.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They issued a “neutral” rating and a $11.00 target price for the company. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.00.

Pitney Bowes Price Performance

PBI stock opened at $10.65 on Tuesday. The company has a 50 day moving average price of $10.19 and a 200 day moving average price of $10.97. Pitney Bowes Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $13.11. The stock has a market capitalization of $1.71 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 0.55 and a beta of 1.32.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The firm had revenue of $459.68 million during the quarter, compared to the consensus estimate of $467.45 million. Pitney Bowes had a net margin of 4.14% and a negative return on equity of 38.38%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, equities analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 10th were paid a $0.09 dividend. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.36 annualized dividend and a dividend yield of 3.4%. Pitney Bowes’s payout ratio is 80.00%.

Pitney Bowes Company Profile

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.