Mutual of America Capital Management LLC Sells 2,763 Shares of Pitney Bowes Inc. $PBI

Mutual of America Capital Management LLC reduced its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 12.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,257 shares of the technology company’s stock after selling 2,763 shares during the period. Mutual of America Capital Management LLC’s holdings in Pitney Bowes were worth $221,000 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 shares of Pitney Bowes in the 1st quarter valued at $267,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Pitney Bowes by 8.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company’s stock valued at $547,000 after acquiring an additional 4,866 shares in the last quarter. Vanguard Group Inc. increased its stake in Pitney Bowes by 0.7% in the first quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company’s stock valued at $192,890,000 after purchasing an additional 151,353 shares in the last quarter. Xponance Inc. increased its stake in Pitney Bowes by 186.6% in the first quarter. Xponance Inc. now owns 40,929 shares of the technology company’s stock valued at $370,000 after purchasing an additional 26,646 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Pitney Bowes in the first quarter valued at $5,322,000. 67.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pitney Bowes in a research note on Wednesday, October 8th. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Pitney Bowes has a consensus rating of “Reduce”.

Pitney Bowes Price Performance

NYSE:PBI opened at $10.02 on Friday. The firm has a 50-day moving average of $11.58 and a 200-day moving average of $10.79. The company has a market cap of $1.72 billion, a PE ratio of 22.27, a PEG ratio of 0.57 and a beta of 1.27. Pitney Bowes Inc. has a one year low of $6.88 and a one year high of $13.11.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of $459.68 million for the quarter, compared to the consensus estimate of $467.45 million. Pitney Bowes had a negative return on equity of 40.31% and a net margin of 4.14%.The company’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. On average, equities research analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 10th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 10th. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.08. Pitney Bowes’s payout ratio is currently -53.33%.

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

Insider Buying and Selling

In related news, Director Brent D. Rosenthal purchased 3,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 3,000 shares of the company’s stock, valued at $35,910. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.