TD Asset Management Inc. trimmed its stake in Pitney Bowes Inc. (NYSE:PBI) by 31.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,640 shares of the technology company’s stock after selling 76,300 shares during the period. TD Asset Management Inc. owned approximately 0.09% of Pitney Bowes worth $2,377,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. HPM Partners LLC bought a new position in shares of Pitney Bowes in the second quarter worth approximately $429,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Pitney Bowes by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock worth $106,000 after purchasing an additional 748 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Pitney Bowes in the second quarter worth approximately $108,000. IFP Advisors Inc increased its position in shares of Pitney Bowes by 74.4% in the second quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock worth $170,000 after purchasing an additional 4,793 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Pitney Bowes by 23.0% in the second quarter. D.A. Davidson & CO. now owns 12,300 shares of the technology company’s stock worth $185,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors own 73.78% of the company’s stock.
Pitney Bowes Inc. (PBI) opened at $10.72 on Friday. Pitney Bowes Inc. has a 52-week low of $9.50 and a 52-week high of $16.60. The company has a debt-to-equity ratio of 35.49, a quick ratio of 1.37 and a current ratio of 1.42. The company has a market cap of $2,001.72, a P/E ratio of 6.92 and a beta of 1.12.
Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The business had revenue of $842.82 million for the quarter, compared to the consensus estimate of $837.60 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. equities research analysts predict that Pitney Bowes Inc. will post 1.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date is Monday, November 20th. Pitney Bowes’s payout ratio is currently 156.25%.
Several research firms recently weighed in on PBI. ValuEngine upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Loop Capital decreased their price objective on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.50.
Pitney Bowes Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
Receive News & Ratings for Pitney Bowes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pitney Bowes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.