ETRADE Capital Management LLC Acquires New Position in Pitney Bowes Inc. (PBI)

ETRADE Capital Management LLC bought a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,949 shares of the technology company’s stock, valued at approximately $168,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in Pitney Bowes by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 9,271,892 shares of the technology company’s stock valued at $140,005,000 after acquiring an additional 137,446 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in Pitney Bowes by 32.9% during the third quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock valued at $71,351,000 after acquiring an additional 1,259,978 shares in the last quarter. LSV Asset Management grew its stake in Pitney Bowes by 4.8% during the second quarter. LSV Asset Management now owns 4,203,966 shares of the technology company’s stock valued at $63,479,000 after acquiring an additional 191,400 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Pitney Bowes by 93.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,110,043 shares of the technology company’s stock valued at $31,863,000 after acquiring an additional 1,019,942 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Pitney Bowes by 3.4% during the second quarter. Northern Trust Corp now owns 1,744,872 shares of the technology company’s stock valued at $26,348,000 after acquiring an additional 56,573 shares in the last quarter. 73.78% of the stock is owned by institutional investors.

Pitney Bowes Inc. (NYSE PBI) traded up $0.03 during mid-day trading on Wednesday, reaching $10.42. 2,941,200 shares of the company’s stock traded hands, compared to its average volume of 2,712,297. Pitney Bowes Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $16.60. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 35.49. The company has a market capitalization of $1,940.10, a price-to-earnings ratio of 6.70 and a beta of 1.12.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 last year, the business earned $0.44 EPS. Pitney Bowes’s revenue for the quarter was up .5% compared to the same quarter last year. research analysts anticipate that Pitney Bowes Inc. will post 1.38 EPS for the current fiscal year.

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.75 annualized dividend and a yield of 7.20%. Pitney Bowes’s dividend payout ratio (DPR) is currently 156.25%.

Several research firms recently weighed in on PBI. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “strong sell” rating in a research note on Monday, November 6th. Loop Capital cut their target price on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, November 2nd. ValuEngine raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Cross Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, BidaskClub raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.50.

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Pitney Bowes Company 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.

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

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