Meitav Dash Investments Ltd. Takes $475,000 Position in Pitney Bowes (PBI)

Meitav Dash Investments Ltd. bought a new stake in shares of Pitney Bowes (NYSE:PBI) in the fourth quarter, Holdings Channel reports. The institutional investor bought 42,500 shares of the technology company’s stock, valued at approximately $475,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PBI. Schroder Investment Management Group raised its position in shares of Pitney Bowes by 166.9% in the 4th quarter. Schroder Investment Management Group now owns 5,639,908 shares of the technology company’s stock worth $63,054,000 after acquiring an additional 3,526,554 shares in the last quarter. Sirios Capital Management L P bought a new position in shares of Pitney Bowes in the 3rd quarter worth $45,044,000. Two Sigma Investments LP raised its position in shares of Pitney Bowes by 1,174.8% in the 4th quarter. Two Sigma Investments LP now owns 1,151,539 shares of the technology company’s stock worth $12,874,000 after acquiring an additional 1,061,211 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Pitney Bowes by 261.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 862,651 shares of the technology company’s stock worth $9,644,000 after acquiring an additional 624,051 shares in the last quarter. Finally, Levin Capital Strategies L.P. raised its position in shares of Pitney Bowes by 802.5% in the 4th quarter. Levin Capital Strategies L.P. now owns 523,425 shares of the technology company’s stock worth $5,852,000 after acquiring an additional 465,425 shares in the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.

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Pitney Bowes (NYSE:PBI) opened at $11.84 on Friday. Pitney Bowes has a one year low of $9.50 and a one year high of $16.25. The company has a debt-to-equity ratio of 18.92, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market capitalization of $2,286.19, a price-to-earnings ratio of 8.62 and a beta of 1.12.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. analysts predict that Pitney Bowes will post 1.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were paid a dividend of $0.1875 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.75 annualized dividend and a yield of 6.33%. Pitney Bowes’s dividend payout ratio (DPR) is 53.57%.

Several research analysts have recently commented on the company. Zacks Investment Research raised Pitney Bowes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 8th. ValuEngine downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $14.50.

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About Pitney Bowes

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: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.

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

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