Boston Partners Grows Holdings in Pitney Bowes Inc. (PBI)

Boston Partners raised its stake in Pitney Bowes Inc. (NYSE:PBI) by 1,790.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,580 shares of the technology company’s stock after purchasing an additional 186,180 shares during the quarter. Boston Partners’ holdings in Pitney Bowes were worth $1,351,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund grew its stake in Pitney Bowes by 4.1% in the first quarter. Texas Permanent School Fund now owns 127,814 shares of the technology company’s stock worth $878,000 after purchasing an additional 5,037 shares in the last quarter. Rhumbline Advisers grew its stake in Pitney Bowes by 0.3% in the first quarter. Rhumbline Advisers now owns 562,300 shares of the technology company’s stock worth $3,863,000 after purchasing an additional 1,926 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Pitney Bowes by 17.2% in the first quarter. Steward Partners Investment Advisory LLC now owns 27,255 shares of the technology company’s stock worth $187,000 after purchasing an additional 4,000 shares in the last quarter. Lapides Asset Management LLC grew its stake in Pitney Bowes by 14.3% in the first quarter. Lapides Asset Management LLC now owns 1,161,100 shares of the technology company’s stock worth $7,977,000 after purchasing an additional 145,103 shares in the last quarter. Finally, World Asset Management Inc grew its stake in Pitney Bowes by 46.8% in the first quarter. World Asset Management Inc now owns 18,337 shares of the technology company’s stock worth $126,000 after purchasing an additional 5,848 shares in the last quarter. 74.39% of the stock is currently owned by institutional investors.

Shares of NYSE PBI opened at $4.91 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 35.45. Pitney Bowes Inc. has a 52-week low of $4.82 and a 52-week high of $9.71. The stock has a market capitalization of $900.01 million, a price-to-earnings ratio of 4.23 and a beta of 1.46.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.09). Pitney Bowes had a return on equity of 99.26% and a net margin of 4.77%. The business had revenue of $868.40 million during the quarter, compared to the consensus estimate of $866.04 million. During the same period in the prior year, the business earned $0.28 EPS. The business’s revenue was down 3.1% on a year-over-year basis. As a group, analysts anticipate that Pitney Bowes Inc. will post 0.93 EPS for the current fiscal year.

Pitney Bowes declared that its Board of Directors has initiated a share buyback program on Tuesday, February 5th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 24th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 4.07%. Pitney Bowes’s dividend payout ratio is currently 17.24%.

In other Pitney Bowes news, VP Stanley J. Sutula III bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $5.34 per share, with a total value of $26,700.00. Following the completion of the acquisition, the vice president now directly owns 15,000 shares of the company’s stock, valued at approximately $80,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert M. Dutkowsky bought 10,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average cost of $5.22 per share, for a total transaction of $52,200.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $52,200. The disclosure for this purchase can be found here. Insiders acquired 18,600 shares of company stock worth $99,492 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on PBI. Maxim Group reiterated a “buy” rating and issued a $11.00 price target on shares of Pitney Bowes in a research note on Wednesday, April 24th. Zacks Investment Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Thursday, February 7th. ValuEngine raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Northcoast Research cut shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a report on Wednesday, February 6th.

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Pitney Bowes Company Profile

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: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.

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

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