Stone Ridge Asset Management LLC acquired a new position in shares of Pitney Bowes (NYSE:PBI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 57,536 shares of the technology company’s stock, valued at approximately $643,000.
Other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. grew its position in shares of Pitney Bowes by 88.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 9,943 shares of the technology company’s stock worth $111,000 after buying an additional 4,664 shares in the last quarter. Timber Hill LLC acquired a new position in Pitney Bowes in the fourth quarter valued at approximately $116,000. State of Alaska Department of Revenue acquired a new position in Pitney Bowes in the fourth quarter valued at approximately $120,000. NEXT Financial Group Inc boosted its holdings in Pitney Bowes by 2,155.1% in the fourth quarter. NEXT Financial Group Inc now owns 11,005 shares of the technology company’s stock valued at $123,000 after purchasing an additional 10,517 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in Pitney Bowes in the fourth quarter valued at approximately $151,000. 75.60% of the stock is owned by institutional investors and hedge funds.
PBI stock opened at $11.32 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 18.92. The stock has a market capitalization of $2,211.47, a P/E ratio of 8.34 and a beta of 1.12. Pitney Bowes has a fifty-two week low of $9.50 and a fifty-two week high of $16.25.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 earnings per share. equities analysts anticipate that Pitney Bowes will post 1.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend was Thursday, February 15th. Pitney Bowes’s dividend payout ratio (DPR) is 53.57%.
A number of brokerages recently issued reports on PBI. Zacks Investment Research raised Pitney Bowes from a “strong sell” rating to a “hold” rating in a report on Monday, January 8th. ValuEngine downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.50.
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Pitney Bowes Company Profile
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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