Evergreen Wealth Management LLC Invests $6.69 Million in Pitney Bowes Inc. $PBI

Evergreen Wealth Management LLC bought a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 586,418 shares of the technology company’s stock, valued at approximately $6,691,000. Pitney Bowes comprises about 3.5% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. Evergreen Wealth Management LLC owned about 0.34% of Pitney Bowes as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new stake in shares of Pitney Bowes in the 2nd quarter valued at about $12,660,000. Allspring Global Investments Holdings LLC grew its position in Pitney Bowes by 76.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 555,747 shares of the technology company’s stock worth $6,341,000 after acquiring an additional 241,465 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in Pitney Bowes in the 3rd quarter worth approximately $7,683,000. Permit Capital LLC lifted its position in Pitney Bowes by 18.8% in the second quarter. Permit Capital LLC now owns 2,850,000 shares of the technology company’s stock valued at $31,094,000 after purchasing an additional 450,000 shares during the last quarter. Finally, Triasima Portfolio Management inc. lifted its position in Pitney Bowes by 300.3% in the third quarter. Triasima Portfolio Management inc. now owns 194,340 shares of the technology company’s stock valued at $2,217,000 after purchasing an additional 145,795 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PBI. Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Pitney Bowes in a report on Monday, December 29th. Citizens Jmp initiated coverage on shares of Pitney Bowes in a research report on Wednesday, December 3rd. They issued a “market outperform” rating and a $13.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Truist Financial initiated coverage on Pitney Bowes in a research note on Friday, December 12th. They issued a “hold” rating and a $11.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Pitney Bowes has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Pitney Bowes Trading Up 0.6%

Shares of PBI opened at $10.29 on Tuesday. Pitney Bowes Inc. has a 1-year low of $7.39 and a 1-year high of $13.11. The firm’s 50-day moving average price is $10.20 and its 200-day moving average price is $10.92. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 0.48 and a beta of 1.30.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The company had revenue of $459.68 million during the quarter, compared to the consensus estimate of $467.45 million. Pitney Bowes had a negative return on equity of 38.38% and a net margin of 4.14%.Pitney Bowes’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. On average, 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 declared a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 10th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, November 10th. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 3.5%. Pitney Bowes’s payout ratio is currently 80.00%.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.