Franklin Resources Inc. Has $6.15 Million Stake in Pitney Bowes Inc. $PBI

Franklin Resources Inc. reduced its holdings in Pitney Bowes Inc. (NYSE:PBI) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563,770 shares of the technology company’s stock after selling 5,538 shares during the quarter. Franklin Resources Inc. owned approximately 0.33% of Pitney Bowes worth $6,151,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PBI. Vanguard Group Inc. boosted 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 worth $192,890,000 after purchasing an additional 151,353 shares in the last quarter. Geode Capital Management LLC lifted its position in Pitney Bowes by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,012,086 shares of the technology company’s stock worth $43,777,000 after buying an additional 240,544 shares in the last quarter. Invesco Ltd. grew its holdings in Pitney Bowes by 38.9% during the 1st quarter. Invesco Ltd. now owns 2,918,742 shares of the technology company’s stock worth $26,415,000 after acquiring an additional 817,953 shares during the last quarter. Permit Capital LLC increased its position in Pitney Bowes by 18.8% in the 2nd quarter. Permit Capital LLC now owns 2,850,000 shares of the technology company’s stock valued at $31,094,000 after acquiring an additional 450,000 shares in the last quarter. Finally, Capital Management Corp VA raised its stake in shares of Pitney Bowes by 9.0% in the second quarter. Capital Management Corp VA now owns 2,161,580 shares of the technology company’s stock worth $23,583,000 after acquiring an additional 178,502 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors.

Insider Transactions at Pitney Bowes

In other news, Director Brent D. Rosenthal bought 3,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average price of $11.97 per share, with a total value of $35,910.00. Following the completion of the purchase, the director owned 3,000 shares of the company’s stock, valued at approximately $35,910. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 9.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PBI shares. The Goldman Sachs Group initiated coverage on shares of Pitney Bowes in a report on Monday, November 3rd. They issued a “neutral” rating and a $11.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a research note on Tuesday, November 25th. Finally, Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Pitney Bowes currently has a consensus rating of “Hold” and an average price target of $11.00.

Pitney Bowes Stock Performance

Shares of Pitney Bowes stock opened at $9.86 on Monday. The firm has a fifty day moving average of $10.58 and a two-hundred day moving average of $10.95. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 0.57 and a beta of 1.27. Pitney Bowes Inc. has a 52 week low of $6.88 and a 52 week high of $13.11.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Pitney Bowes had a negative return on equity of 40.31% and a net margin of 4.14%.The company had revenue of $459.68 million for the quarter, compared to analyst estimates of $467.45 million. During the same period last year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, research 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. Investors 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 yield of 3.7%. The ex-dividend date of this dividend is Monday, November 10th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. Pitney Bowes’s payout ratio is 80.00%.

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.