Public Employees Retirement System of Ohio Has $42,000 Holdings in Pitney Bowes Inc. $PBI

Public Employees Retirement System of Ohio cut its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 26.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,834 shares of the technology company’s stock after selling 1,377 shares during the period. Public Employees Retirement System of Ohio’s holdings in Pitney Bowes were worth $42,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Trail Ridge Investment Advisors LLC bought a new stake in Pitney Bowes during the 1st quarter worth approximately $267,000. GAMMA Investing LLC grew its position in Pitney Bowes by 1,030.5% during the 1st quarter. GAMMA Investing LLC now owns 30,716 shares of the technology company’s stock worth $278,000 after acquiring an additional 27,999 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Pitney Bowes by 8.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company’s stock worth $547,000 after acquiring an additional 4,866 shares during the last quarter. Vanguard Group Inc. grew its position in Pitney Bowes by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company’s stock worth $192,890,000 after acquiring an additional 151,353 shares during the last quarter. Finally, Xponance Inc. grew its position in Pitney Bowes by 186.6% during the 1st quarter. Xponance Inc. now owns 40,929 shares of the technology company’s stock worth $370,000 after acquiring an additional 26,646 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PBI. Weiss Ratings restated a “sell (d)” rating on shares of Pitney Bowes in a research report on Saturday, September 27th. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Pitney Bowes Stock Up 0.5%

PBI stock opened at $11.02 on Wednesday. The business’s fifty day moving average is $11.58 and its 200-day moving average is $10.48. The company has a market cap of $1.90 billion, a P/E ratio of -18.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.27. Pitney Bowes Inc. has a twelve month low of $6.66 and a twelve month high of $13.11.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $461.91 million for the quarter, compared to the consensus estimate of $475.92 million. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 11th. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s dividend payout ratio (DPR) is -53.33%.

Pitney Bowes announced that its Board of Directors has approved a stock buyback program on Wednesday, July 30th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 18.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Pitney Bowes

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total transaction of $424,900.00. Following the sale, the executive vice president owned 115,405 shares of the company’s stock, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brent D. Rosenthal acquired 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of $11.97 per share, for a total transaction of $35,910.00. Following the purchase, the director directly owned 3,000 shares in the company, valued at $35,910. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.00% of the company’s stock.

About Pitney Bowes

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.