Fmr LLC Reduces Stake in Pitney Bowes Inc. (NYSE:PBI)

FMR LLC decreased its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 44.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,007 shares of the technology company’s stock after selling 41,057 shares during the period. FMR LLC’s holdings in Pitney Bowes were worth $682,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PBI. Miller Howard Investments Inc. NY bought a new stake in Pitney Bowes during the first quarter valued at about $50,988,000. Breton Hill Capital Ltd. raised its stake in Pitney Bowes by 212.7% in the first quarter. Breton Hill Capital Ltd. now owns 645,642 shares of the technology company’s stock valued at $8,464,000 after buying an additional 1,218,637 shares during the last quarter. KBC Group NV bought a new stake in Pitney Bowes during the first quarter valued at about $12,503,000. State of New Jersey Common Pension Fund D bought a new stake in Pitney Bowes during the first quarter valued at about $11,818,000. Finally, Canada Pension Plan Investment Board raised its stake in Pitney Bowes by 54.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,217,500 shares of the technology company’s stock valued at $29,071,000 after buying an additional 782,900 shares during the last quarter. 76.98% of the stock is owned by institutional investors.

Shares of Pitney Bowes Inc. (NYSE PBI) opened at 12.74 on Friday. The stock has a 50 day moving average price of $14.41 and a 200 day moving average price of $14.15. Pitney Bowes Inc. has a one year low of $12.31 and a one year high of $19.10. The stock has a market capitalization of $2.38 billion, a P/E ratio of 25.03 and a beta of 1.17.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The business had revenue of $821.40 million during the quarter, compared to analyst estimates of $822.90 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. Equities analysts forecast that Pitney Bowes Inc. will post $1.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio is presently 144.23%.

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Several equities research analysts have recently issued reports on PBI shares. BidaskClub lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Zacks Investment Research lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cross Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Loop Capital started coverage on Pitney Bowes in a research note on Friday, July 28th. They issued a “hold” rating and a $16.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Pitney Bowes currently has an average rating of “Hold” and an average price target of $17.50.

About Pitney Bowes

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.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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