Pitney Bowes Inc. $PBI Position Lessened by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC trimmed its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 75.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,024 shares of the technology company’s stock after selling 97,965 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Pitney Bowes were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PBI. Hennessy Advisors Inc. bought a new stake in shares of Pitney Bowes during the second quarter worth about $12,660,000. Vanguard Group Inc. boosted 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 valued at $192,890,000 after purchasing an additional 151,353 shares during the last quarter. Nuveen LLC bought a new stake in Pitney Bowes during the 1st quarter worth approximately $5,322,000. Informed Momentum Co LLC purchased a new stake in shares of Pitney Bowes in the first quarter worth approximately $3,316,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Pitney Bowes in the first quarter valued at approximately $857,000. Institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PBI. Weiss Ratings reiterated a “hold (c)” rating on shares of Pitney Bowes in a report on Thursday. Wall Street Zen lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, The Goldman Sachs Group started coverage on shares of Pitney Bowes in a research report on Monday, November 3rd. They set a “neutral” rating and a $11.00 target price on the stock. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.00.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Brent D. Rosenthal bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was bought at an average price of $11.97 per share, for a total transaction of $35,910.00. Following the completion of the acquisition, the director directly owned 3,000 shares in the company, valued at $35,910. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.00% of the company’s stock.

Pitney Bowes Trading Down 1.1%

PBI stock opened at $9.15 on Monday. The company’s 50 day moving average is $10.98 and its 200 day moving average is $10.92. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 0.57 and a beta of 1.27. Pitney Bowes Inc. has a 1-year low of $6.88 and a 1-year high of $13.11.

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

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.9%. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, November 10th. Pitney Bowes’s payout ratio is currently 80.00%.

Pitney Bowes declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.