New Mexico Educational Retirement Board bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 46,200 shares of the technology company’s stock, valued at approximately $517,000.
Other hedge funds also recently made changes to their positions in the company. Vident Investment Advisory LLC bought a new stake in shares of Pitney Bowes during the 3rd quarter worth about $472,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Pitney Bowes during the 3rd quarter worth about $467,000. KBC Group NV boosted its holdings in shares of Pitney Bowes by 50.9% during the 4th quarter. KBC Group NV now owns 494,448 shares of the technology company’s stock worth $5,528,000 after buying an additional 166,890 shares during the period. FMR LLC boosted its holdings in shares of Pitney Bowes by 140.9% during the 2nd quarter. FMR LLC now owns 125,267 shares of the technology company’s stock worth $1,892,000 after buying an additional 73,260 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Pitney Bowes by 8.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,256,432 shares of the technology company’s stock worth $17,603,000 after buying an additional 96,368 shares during the period. 70.97% of the stock is owned by institutional investors and hedge funds.
Shares of Pitney Bowes Inc. (PBI) opened at $12.57 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 18.92. The stock has a market cap of $2,350.00, a PE ratio of 10.56 and a beta of 1.05. Pitney Bowes Inc. has a twelve month low of $9.50 and a twelve month high of $16.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Thursday, February 15th. Pitney Bowes’s dividend payout ratio is currently 63.03%.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of Pitney Bowes from a “strong sell” rating to a “hold” rating in a report on Monday, January 8th. ValuEngine downgraded shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Loop Capital cut their price objective on shares of Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $14.50.
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Pitney Bowes Profile
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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