Levin Capital Strategies L.P. raised its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 61.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 708,379 shares of the technology company’s stock after acquiring an additional 268,504 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.38% of Pitney Bowes worth $4,187,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Jefferies Group LLC grew its stake in Pitney Bowes by 178.7% during the 3rd quarter. Jefferies Group LLC now owns 250,798 shares of the technology company’s stock valued at $1,776,000 after acquiring an additional 160,798 shares in the last quarter. Morgan Stanley grew its stake in Pitney Bowes by 18.2% during the 3rd quarter. Morgan Stanley now owns 1,370,690 shares of the technology company’s stock valued at $9,705,000 after acquiring an additional 211,019 shares in the last quarter. SMH Capital Advisors Inc. purchased a new position in Pitney Bowes during the 4th quarter valued at about $188,000. Paloma Partners Management Co purchased a new position in Pitney Bowes during the 3rd quarter valued at about $108,000. Finally, MetLife Investment Advisors LLC grew its stake in Pitney Bowes by 14.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 234,302 shares of the technology company’s stock valued at $1,659,000 after acquiring an additional 29,977 shares in the last quarter. 71.40% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the company. Zacks Investment Research reaffirmed a “sell” rating on shares of Pitney Bowes in a research note on Monday, December 31st. Maxim Group set a $12.00 target price on Pitney Bowes and gave the company a “buy” rating in a research note on Thursday, December 13th. Finally, Northcoast Research cut Pitney Bowes from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.00.
Shares of Pitney Bowes stock opened at $7.07 on Monday. The stock has a market cap of $1.33 billion, a PE ratio of 6.09 and a beta of 1.46. The company has a debt-to-equity ratio of 12.82, a current ratio of 1.25 and a quick ratio of 1.23. Pitney Bowes Inc. has a 52-week low of $5.51 and a 52-week high of $13.09.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Tuesday, February 5th. The technology company reported $0.38 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The business had revenue of $947.10 million during the quarter, compared to analyst estimates of $932.48 million. Pitney Bowes had a return on equity of 100.78% and a net margin of 6.17%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Equities analysts expect that Pitney Bowes Inc. will post 1.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.20 annualized dividend and a dividend yield of 2.83%. Pitney Bowes’s dividend payout ratio is 64.66%.
Pitney Bowes announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 5th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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About Pitney Bowes
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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