Strs Ohio trimmed its stake in Pitney Bowes Inc. (NYSE:PBI – Get Rating) by 77.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,200 shares of the technology company’s stock after selling 88,800 shares during the quarter. Strs Ohio’s holdings in Pitney Bowes were worth $61,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY grew its holdings in Pitney Bowes by 31.6% in the third quarter. Paradigm Capital Management Inc. NY now owns 1,638,900 shares of the technology company’s stock valued at $3,819,000 after purchasing an additional 394,000 shares during the period. Crumly & Associates Inc. grew its stake in Pitney Bowes by 48.2% during the third quarter. Crumly & Associates Inc. now owns 105,590 shares of the technology company’s stock worth $246,000 after buying an additional 34,343 shares during the period. Sage Rhino Capital LLC purchased a new stake in Pitney Bowes during the third quarter worth approximately $31,000. Aaron Wealth Advisors LLC purchased a new stake in Pitney Bowes during the third quarter worth approximately $47,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Pitney Bowes during the third quarter worth approximately $180,000. 72.13% of the stock is currently owned by hedge funds and other institutional investors.
Pitney Bowes Price Performance
PBI opened at $4.30 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.07 and a debt-to-equity ratio of 49.71. Pitney Bowes Inc. has a 52-week low of $2.30 and a 52-week high of $6.17. The company has a 50 day moving average of $3.97 and a two-hundred day moving average of $3.40. The company has a market cap of $748.22 million, a P/E ratio of 23.89 and a beta of 2.27.
Pitney Bowes Dividend Announcement
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, October 7th.
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, Canada, and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.
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