Restructuring Capital Associates LP increased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 146.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,200,496 shares of the technology company’s stock after purchasing an additional 713,918 shares during the quarter. Pitney Bowes accounts for approximately 5.1% of Restructuring Capital Associates LP’s portfolio, making the stock its 7th biggest position. Restructuring Capital Associates LP owned about 0.64% of Pitney Bowes worth $7,095,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of PBI. Essex Savings Bank acquired a new stake in shares of Pitney Bowes during the 4th quarter worth about $47,000. Boston Partners acquired a new position in Pitney Bowes in the 4th quarter valued at about $61,000. Oregon Public Employees Retirement Fund grew its position in Pitney Bowes by 509.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 444,710 shares of the technology company’s stock valued at $75,000 after acquiring an additional 371,705 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pitney Bowes by 32.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,077 shares of the technology company’s stock valued at $77,000 after acquiring an additional 3,170 shares in the last quarter. Finally, Neuburgh Advisers LLC acquired a new position in Pitney Bowes in the 4th quarter valued at about $77,000. 69.60% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on PBI shares. Northcoast Research downgraded Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 6th. Zacks Investment Research downgraded Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Finally, Maxim Group set a $12.00 target price on Pitney Bowes and gave the company a “buy” rating in a research report on Thursday, December 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $11.00.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Tuesday, February 5th. The technology company reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. Pitney Bowes had a return on equity of 100.78% and a net margin of 6.17%. The business had revenue of $947.10 million during the quarter, compared to the consensus estimate of $932.48 million. During the same period in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts anticipate that Pitney Bowes Inc. will post 1.13 EPS for the current fiscal year.
Pitney Bowes declared that its Board of Directors has approved a share buyback program on Tuesday, February 5th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Thursday, February 14th. Pitney Bowes’s dividend payout ratio is presently 17.24%.
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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