Public Employees Retirement System of Ohio held its stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,704 shares of the technology company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in Pitney Bowes were worth $783,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of PBI. M&T Bank Corp raised its stake in Pitney Bowes by 1.7% in the first quarter. M&T Bank Corp now owns 26,743 shares of the technology company’s stock worth $349,000 after buying an additional 439 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Pitney Bowes by 4.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,109 shares of the technology company’s stock worth $146,000 after buying an additional 500 shares in the last quarter. Rothschild Investment Corp IL raised its stake in shares of Pitney Bowes by 2.5% in the first quarter. Rothschild Investment Corp IL now owns 41,029 shares of the technology company’s stock valued at $538,000 after buying an additional 1,000 shares in the last quarter. Huntington National Bank raised its stake in shares of Pitney Bowes by 10.1% in the first quarter. Huntington National Bank now owns 16,981 shares of the technology company’s stock valued at $222,000 after buying an additional 1,553 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of Pitney Bowes during the first quarter valued at approximately $216,000. 76.98% of the stock is currently owned by institutional investors.
Shares of Pitney Bowes Inc. (PBI) opened at 12.74 on Friday. The stock’s 50 day moving average is $14.41 and its 200-day moving average is $14.15. The firm has a market cap of $2.38 billion, a P/E ratio of 25.03 and a beta of 1.17. Pitney Bowes Inc. has a one year low of $12.31 and a one year high of $19.10.
Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, August 1st. The technology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.03. The firm had revenue of $821.40 million during the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a return on equity of 15,666.66% and a net margin of 3.02%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. Analysts anticipate that Pitney Bowes Inc. will post $1.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Wednesday, August 23rd. Pitney Bowes’s dividend payout ratio (DPR) is currently 144.23%.
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Several analysts have recently commented on the company. Sidoti lowered Pitney Bowes from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. Zacks Investment Research downgraded Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub downgraded Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Loop Capital assumed coverage on Pitney Bowes in a research report on Friday, July 28th. They set a “hold” rating and a $16.00 price target on the stock. Finally, Cross Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, three have assigned 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 target price 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.
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