Conning Inc. boosted its position in shares of Pitney Bowes (NYSE:PBI) by 40.2% in the first quarter, HoldingsChannel.com reports. The firm owned 100,109 shares of the technology company’s stock after purchasing an additional 28,680 shares during the period. Conning Inc.’s holdings in Pitney Bowes were worth $779,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. grew its holdings in Pitney Bowes by 88.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 9,943 shares of the technology company’s stock valued at $111,000 after purchasing an additional 4,664 shares during the period. Timber Hill LLC acquired a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $116,000. State of Alaska Department of Revenue acquired a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $120,000. NEXT Financial Group Inc boosted its holdings in shares of Pitney Bowes by 2,155.1% in the fourth quarter. NEXT Financial Group Inc now owns 11,005 shares of the technology company’s stock valued at $123,000 after buying an additional 10,517 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $151,000. Hedge funds and other institutional investors own 75.32% of the company’s stock.
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Pitney Bowes stock opened at $8.81 on Tuesday. The company has a market capitalization of $1.61 billion, a PE ratio of 6.25 and a beta of 1.15. Pitney Bowes has a twelve month low of $8.30 and a twelve month high of $16.25. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 15.15.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company had revenue of $983.20 million during the quarter, compared to analysts’ expectations of $930.38 million. Pitney Bowes had a net margin of 6.76% and a return on equity of 189.79%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. equities research analysts predict that Pitney Bowes will post 1.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Friday, May 25th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 8.51%. Pitney Bowes’s dividend payout ratio (DPR) is presently 53.19%.
Several research analysts have recently weighed in on PBI shares. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. ValuEngine cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. Finally, Loop Capital reduced their price target on shares of Pitney Bowes to $10.00 and set a “hold” rating for the company in a report on Thursday, May 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Pitney Bowes currently has an average rating of “Hold” and an average price target of $13.50.
Pitney Bowes Profile
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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