Hennessy Advisors Inc. Sells 380,600 Shares of Pitney Bowes Inc. $PBI

Hennessy Advisors Inc. lowered its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 39.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 594,900 shares of the technology company’s stock after selling 380,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Pitney Bowes were worth $10,423,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Pitney Bowes in the second quarter worth $220,473,000. State Street Corp lifted its stake in shares of Pitney Bowes by 3.1% during the 2nd quarter. State Street Corp now owns 6,366,188 shares of the technology company’s stock valued at $69,455,000 after buying an additional 188,886 shares in the last quarter. LSV Asset Management lifted its stake in shares of Pitney Bowes by 246.7% during the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after buying an additional 2,986,689 shares in the last quarter. Permit Capital LLC raised its holdings in Pitney Bowes by 14.0% during the fourth quarter. Permit Capital LLC now owns 3,250,000 shares of the technology company’s stock valued at $34,352,000 after acquiring an additional 400,000 shares during the period. Finally, Capital Management Corp VA lifted its position in shares of Pitney Bowes by 25.3% in the fourth quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock valued at $30,974,000 after acquiring an additional 592,568 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors.

Pitney Bowes Trading Down 0.2%

PBI stock opened at $17.23 on Friday. The stock has a market cap of $2.36 billion, a PE ratio of 14.12, a P/E/G ratio of 0.69 and a beta of 1.63. Pitney Bowes Inc. has a 12 month low of $8.95 and a 12 month high of $19.07. The company has a 50-day moving average price of $17.41 and a 200 day moving average price of $14.68.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Pitney Bowes had a net margin of 10.04% and a negative return on equity of 31.37%. The business had revenue of $451.50 million during the quarter, compared to the consensus estimate of $453.94 million. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Pitney Bowes has set its FY 2026 guidance at 1.550-1.700 EPS. Sell-side analysts forecast that Pitney Bowes Inc. will post 1.68 EPS for the current year.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes’s payout ratio is presently 32.79%.

Insiders Place Their Bets

In other Pitney Bowes news, CEO Kurt James Wolf sold 413,266 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $18.11, for a total value of $7,484,247.26. Following the sale, the chief executive officer owned 122,963 shares in the company, valued at $2,226,859.93. This trade represents a 77.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Todd A. Everett sold 25,000 shares of Pitney Bowes stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $18.07, for a total value of $451,750.00. Following the sale, the executive vice president owned 96,048 shares of the company’s stock, valued at approximately $1,735,587.36. This trade represents a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,417,150 shares of company stock worth $42,333,327. Insiders own 6.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PBI. Bank of America upgraded Pitney Bowes from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $9.50 to $16.50 in a research report on Monday, May 11th. Citigroup restated a “market outperform” rating on shares of Pitney Bowes in a research note on Friday, July 31st. Truist Financial increased their price objective on shares of Pitney Bowes from $15.00 to $18.00 and gave the company a “hold” rating in a report on Friday, July 31st. Citizens Jmp boosted their target price on shares of Pitney Bowes from $19.00 to $22.00 and gave the stock a “market outperform” rating in a report on Friday, July 31st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $17.30 target price on shares of Pitney Bowes in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.45.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.