Choreo LLC Raises Position in Pitney Bowes Inc. (NYSE:PBI)

Choreo LLC grew its position in Pitney Bowes Inc. (NYSE:PBI) by 45.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,807 shares of the technology company’s stock after acquiring an additional 15,588 shares during the period. Choreo LLC’s holdings in Pitney Bowes were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PBI. Cutter & CO Brokerage Inc. boosted its holdings in Pitney Bowes by 6.7% during the second quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock worth $162,000 after buying an additional 2,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Pitney Bowes by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after buying an additional 2,054 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Pitney Bowes by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock worth $398,000 after buying an additional 2,300 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Pitney Bowes by 7.5% during the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock worth $151,000 after buying an additional 2,440 shares in the last quarter. Finally, Contrarian Capital Management L.L.C. boosted its holdings in Pitney Bowes by 2.1% during the fourth quarter. Contrarian Capital Management L.L.C. now owns 245,000 shares of the technology company’s stock worth $1,078,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Trading Up 1.5 %

PBI stock opened at $7.02 on Thursday. The company has a market cap of $1.26 billion, a P/E ratio of -3.23, a P/E/G ratio of 1.27 and a beta of 1.98. Pitney Bowes Inc. has a 52 week low of $2.87 and a 52 week high of $7.70. The company’s 50-day moving average price is $6.76 and its 200 day moving average price is $5.48.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. The company had revenue of $793.17 million during the quarter, compared to analysts’ expectations of $771.65 million. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. On average, equities research analysts expect that Pitney Bowes Inc. will post 0.35 earnings per share for the current year.

Pitney Bowes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s payout ratio is currently -9.22%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

Pitney Bowes Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.