Nuveen LLC Makes New $5.32 Million Investment in Pitney Bowes Inc. $PBI

Nuveen LLC acquired a new position in shares of Pitney Bowes Inc. (NYSE:PBI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 588,073 shares of the technology company’s stock, valued at approximately $5,322,000. Nuveen LLC owned about 0.32% of Pitney Bowes as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PBI. KBC Group NV acquired a new position in Pitney Bowes during the first quarter worth $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Pitney Bowes during the first quarter worth $98,000. PharVision Advisers LLC acquired a new position in Pitney Bowes during the fourth quarter worth $107,000. PFG Investments LLC boosted its stake in Pitney Bowes by 14.6% during the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company’s stock worth $117,000 after buying an additional 1,644 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Pitney Bowes during the first quarter worth $124,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Stock Up 4.9%

NYSE:PBI opened at $12.40 on Tuesday. Pitney Bowes Inc. has a 52 week low of $6.22 and a 52 week high of $13.11. The company has a market capitalization of $2.13 billion, a P/E ratio of -20.67, a P/E/G ratio of 0.61 and a beta of 1.54. The stock’s fifty day moving average is $11.36 and its two-hundred day moving average is $10.11.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $475.92 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 11th will be issued a $0.08 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 2.6%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s dividend payout ratio (DPR) is presently -53.33%.

Pitney Bowes announced that its board has initiated a stock buyback plan on Wednesday, July 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 18.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PBI has been the topic of a number of recent research reports. Sidoti raised Pitney Bowes to a “hold” rating in a research note on Monday, May 5th. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Insider Activity

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the sale, the executive vice president owned 115,405 shares in the company, valued at approximately $1,401,016.70. The trade was a 23.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.00% of the company’s stock.

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.