45,720 Shares in Pitney Bowes Inc. (NYSE:PBI) Acquired by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 45,720 shares of the technology company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in Pitney Bowes during the 2nd quarter worth approximately $48,000. Point72 DIFC Ltd grew its position in Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after acquiring an additional 7,819 shares in the last quarter. William Howard & Co Financial Advisors Inc acquired a new stake in Pitney Bowes in the first quarter valued at approximately $52,000. SageView Advisory Group LLC acquired a new stake in Pitney Bowes in the first quarter valued at approximately $57,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after acquiring an additional 2,054 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Ratings Changes

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

Pitney Bowes Stock Up 0.3 %

Shares of NYSE:PBI opened at $7.13 on Tuesday. Pitney Bowes Inc. has a 52-week low of $3.03 and a 52-week high of $7.70. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -3.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.98. The company has a 50 day moving average of $6.80 and a two-hundred day moving average of $5.63.

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

Pitney Bowes Announces Dividend

The business also recently declared 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 2.81%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes’s payout ratio is currently -9.22%.

Pitney Bowes Company 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.