Pitney Bowes Inc. (NYSE:PBI) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in Pitney Bowes Inc. (NYSE:PBI) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,420 shares of the technology company’s stock after acquiring an additional 5,073 shares during the quarter. Federated Hermes Inc.’s holdings in Pitney Bowes were worth $403,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in shares of Pitney Bowes during the first quarter valued at $764,000. Quadrature Capital Ltd bought a new stake in shares of Pitney Bowes during the 4th quarter worth about $240,000. BNP Paribas Financial Markets lifted its stake in shares of Pitney Bowes by 10.0% in the 1st quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock worth $935,000 after acquiring an additional 19,690 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $152,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Pitney Bowes during the second quarter valued at approximately $208,000. Institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

Pitney Bowes Stock Up 0.6 %

NYSE:PBI opened at $7.06 on Tuesday. Pitney Bowes Inc. has a 52-week low of $2.87 and a 52-week high of $7.70. The firm has a market cap of $1.26 billion, a P/E ratio of -3.25, a PEG ratio of 1.26 and a beta of 1.98. The business’s 50-day moving average price is $6.78 and its 200 day moving average price is $5.55.

Pitney Bowes (NYSE:PBI) last released its earnings results on Thursday, August 8th. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. The business had revenue of $793.17 million for the quarter, compared to the consensus estimate of $771.65 million. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. Sell-side analysts expect that Pitney Bowes Inc. will post 0.35 EPS for the current year.

Pitney Bowes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders 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 dividend yield of 2.83%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

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.