Pitney Bowes Inc. (NYSE:PBI) Position Boosted by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 37.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,509 shares of the technology company’s stock after acquiring an additional 48,390 shares during the period. Texas Permanent School Fund Corp owned approximately 0.10% of Pitney Bowes worth $907,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PBI. Steward Partners Investment Solutions LLC acquired a new position in shares of Pitney Bowes during the fourth quarter valued at $1,869,000. Hsbc Holdings PLC grew its position in Pitney Bowes by 58.2% in the 4th quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company’s stock valued at $4,145,000 after buying an additional 349,599 shares in the last quarter. Tidal Investments LLC bought a new position in Pitney Bowes in the 1st quarter valued at about $764,000. Quadrature Capital Ltd bought a new stake in shares of Pitney Bowes during the 4th quarter worth about $240,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Pitney Bowes in the 1st quarter worth approximately $197,000. Institutional investors own 67.88% of the company’s stock.

Analyst Ratings Changes

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

Pitney Bowes Stock Performance

Shares of PBI stock opened at $7.01 on Friday. Pitney Bowes Inc. has a 1 year low of $2.87 and a 1 year high of $7.70. The business’s fifty day moving average is $6.78 and its 200-day moving average is $5.51. The stock has a market cap of $1.26 billion, a PE ratio of -3.23, a price-to-earnings-growth ratio of 1.26 and a beta of 1.98.

Pitney Bowes (NYSE:PBI) last released 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. Pitney Bowes had a negative return on equity of 5.31% and a negative net margin of 8.05%. The firm had revenue of $793.17 million for the quarter, compared to analyst estimates of $771.65 million. During the same period in the previous year, the company earned ($0.02) earnings per share. Pitney Bowes’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Pitney Bowes Inc. will post 0.35 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.20 annualized dividend and a dividend yield of 2.85%. Pitney Bowes’s dividend 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.