Dimensional Fund Advisors LP Sells 1,207,835 Shares of Pitney Bowes Inc. (NYSE:PBI)

Dimensional Fund Advisors LP trimmed its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 76.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,817 shares of the technology company’s stock after selling 1,207,835 shares during the quarter. Dimensional Fund Advisors LP owned about 0.21% of Pitney Bowes worth $1,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its position in shares of Pitney Bowes by 6.8% in the second quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock valued at $403,000 after acquiring an additional 5,073 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Pitney Bowes by 37.2% in the second quarter. Texas Permanent School Fund Corp now owns 178,509 shares of the technology company’s stock valued at $907,000 after acquiring an additional 48,390 shares during the period. Choreo LLC boosted its position in shares of Pitney Bowes by 45.6% in the second quarter. Choreo LLC now owns 49,807 shares of the technology company’s stock valued at $253,000 after acquiring an additional 15,588 shares during the period. Victory Capital Management Inc. boosted its position in shares of Pitney Bowes by 35.5% in the second quarter. Victory Capital Management Inc. now owns 41,897 shares of the technology company’s stock valued at $213,000 after acquiring an additional 10,974 shares during the period. Finally, Wealth Effects LLC boosted its position in shares of Pitney Bowes by 16.5% in the second quarter. Wealth Effects LLC now owns 173,468 shares of the technology company’s stock valued at $881,000 after acquiring an additional 24,551 shares during the period. 67.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Pitney Bowes Stock Performance

Shares of Pitney Bowes stock opened at $7.13 on Friday. The stock has a market cap of $1.28 billion, a PE ratio of -3.29, a PEG ratio of 1.30 and a beta of 1.97. The firm has a 50-day moving average of $6.84 and a 200-day moving average of $5.78. Pitney Bowes Inc. has a 52-week low of $3.03 and a 52-week high of $7.70.

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

Pitney Bowes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend 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.