Pitney Bowes Inc. (NYSE:PBI) Director Linda S. Sanford purchased 5,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was bought at an average cost of $15.09 per share, for a total transaction of $75,450.00. Following the completion of the acquisition, the director now owns 18,690 shares in the company, valued at $282,032.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Pitney Bowes Inc. (NYSE:PBI) traded up 0.81% on Friday, reaching $14.99. 1,135,523 shares of the company’s stock traded hands. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 28.12 and a beta of 1.36. Pitney Bowes Inc. has a 52-week low of $12.31 and a 52-week high of $19.33. The company’s 50 day moving average is $14.02 and its 200-day moving average is $14.45.
Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Pitney Bowes had a net margin of 3.20% and a return on equity of 575.70%. The company had revenue of $836.60 million for the quarter, compared to analyst estimates of $817.07 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. Equities analysts expect that Pitney Bowes Inc. will post $1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Friday, May 26th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Wednesday, May 24th. Pitney Bowes’s dividend payout ratio (DPR) is currently 153.06%.
Several hedge funds have recently bought and sold shares of PBI. BlackRock Inc. raised its stake in Pitney Bowes by 9,828.4% in the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock valued at $277,037,000 after buying an additional 20,918,761 shares during the period. State Street Corp raised its stake in Pitney Bowes by 6.3% in the fourth quarter. State Street Corp now owns 7,136,322 shares of the technology company’s stock valued at $108,398,000 after buying an additional 424,257 shares during the period. Wells Fargo & Company MN raised its stake in Pitney Bowes by 8.2% in the third quarter. Wells Fargo & Company MN now owns 7,002,244 shares of the technology company’s stock valued at $127,161,000 after buying an additional 529,171 shares during the period. LSV Asset Management raised its stake in Pitney Bowes by 5.4% in the first quarter. LSV Asset Management now owns 4,012,566 shares of the technology company’s stock valued at $52,604,000 after buying an additional 205,000 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new stake in Pitney Bowes during the first quarter valued at about $50,988,000. 73.69% of the stock is currently owned by institutional investors.
PBI has been the topic of several research analyst reports. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Monday, April 10th. Sidoti cut shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a report on Monday.
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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