Wedge Capital Management L L P NC Has $2.49 Million Stock Position in Pitney Bowes Inc. $PBI

Wedge Capital Management L L P NC raised its position in Pitney Bowes Inc. (NYSE:PBI) by 34.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,124 shares of the technology company’s stock after purchasing an additional 55,856 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.13% of Pitney Bowes worth $2,489,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Pitney Bowes during the 1st quarter valued at about $5,322,000. Russell Investments Group Ltd. raised its position in Pitney Bowes by 1,545.3% during the first quarter. Russell Investments Group Ltd. now owns 225,170 shares of the technology company’s stock valued at $2,038,000 after acquiring an additional 211,484 shares in the last quarter. Quantbot Technologies LP bought a new position in Pitney Bowes during the first quarter valued at approximately $36,000. Kestra Advisory Services LLC lifted its stake in Pitney Bowes by 9.5% in the first quarter. Kestra Advisory Services LLC now owns 91,694 shares of the technology company’s stock valued at $830,000 after acquiring an additional 7,960 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in Pitney Bowes in the first quarter worth approximately $422,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Citigroup initiated coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating on the stock. The Goldman Sachs Group started coverage on shares of Pitney Bowes in a research report on Monday, November 3rd. They set a “neutral” rating and a $11.00 target price on the stock. Truist Financial assumed coverage on Pitney Bowes in a research report on Friday, December 12th. They issued a “hold” rating and a $11.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Pitney Bowes in a research note on Monday, December 15th. Finally, Citizens Jmp initiated coverage on Pitney Bowes in a report on Wednesday, December 3rd. They set a “market outperform” rating and a $13.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pitney Bowes presently has an average rating of “Hold” and an average price target of $12.00.

Pitney Bowes Price Performance

Pitney Bowes stock opened at $10.65 on Tuesday. Pitney Bowes Inc. has a fifty-two week low of $6.88 and a fifty-two week high of $13.11. The firm has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $10.97. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 0.55 and a beta of 1.32.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Pitney Bowes had a net margin of 4.14% and a negative return on equity of 38.38%. The business had revenue of $459.68 million during the quarter, compared to analyst estimates of $467.45 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 10th were given a $0.09 dividend. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, November 10th. Pitney Bowes’s dividend payout ratio (DPR) is currently 80.00%.

Pitney Bowes Profile

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.