KLP Kapitalforvaltning AS Grows Position in Pitney Bowes Inc. $PBI

KLP Kapitalforvaltning AS lifted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 20.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,900 shares of the technology company’s stock after purchasing an additional 6,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Pitney Bowes were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake 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 in the last quarter. Invesco Ltd. raised its position in Pitney Bowes by 38.9% in the 1st quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company’s stock valued at $26,415,000 after purchasing an additional 817,953 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Pitney Bowes in the 1st quarter valued at about $11,032,000. Hennessy Advisors Inc. acquired a new stake in Pitney Bowes in the 2nd quarter valued at about $12,660,000. Finally, Deutsche Bank AG raised its position in Pitney Bowes by 493.1% in the 1st quarter. Deutsche Bank AG now owns 850,538 shares of the technology company’s stock valued at $7,697,000 after purchasing an additional 707,133 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Trading Up 1.1%

Shares of PBI stock opened at $11.26 on Friday. The business’s 50 day moving average is $11.56 and its two-hundred day moving average is $10.58. Pitney Bowes Inc. has a twelve month low of $6.88 and a twelve month high of $13.11. The company has a market capitalization of $1.94 billion, a P/E ratio of -18.77, a price-to-earnings-growth ratio of 0.58 and a beta of 1.27.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share for the quarter, meeting the consensus estimate 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 period last year, the business posted $0.03 EPS. The company’s revenue was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. As a group, equities analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 2.8%. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s payout ratio is -53.33%.

Pitney Bowes declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the technology company to purchase up to 18.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PBI shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Pitney Bowes in a report on Wednesday, October 8th. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pitney Bowes currently has a consensus rating of “Reduce”.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, Director Brent D. Rosenthal purchased 3,000 shares of Pitney Bowes stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average cost of $11.97 per share, with a total value of $35,910.00. Following the acquisition, the director directly owned 3,000 shares of the company’s stock, valued at $35,910. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is owned by corporate insiders.

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.