Pitney Bowes Inc. (NYSE:PBI) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Pitney Bowes Inc. (NYSE:PBI) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 519,571 shares of the technology company’s stock after acquiring an additional 19,000 shares during the quarter. Renaissance Technologies LLC owned 0.29% of Pitney Bowes worth $2,639,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in shares of Pitney Bowes by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock worth $10,754,000 after buying an additional 21,811 shares during the last quarter. Hsbc Holdings PLC boosted 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 worth $4,145,000 after purchasing an additional 349,599 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Pitney Bowes by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock worth $2,581,000 after purchasing an additional 10,646 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Pitney Bowes by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock valued at $957,000 after purchasing an additional 8,305 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Pitney Bowes by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock valued at $935,000 after purchasing an additional 19,690 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Down 3.8 %

PBI opened at $6.86 on Wednesday. The company has a market cap of $1.23 billion, a PE ratio of -3.16, a price-to-earnings-growth ratio of 1.36 and a beta of 1.98. Pitney Bowes Inc. has a twelve month low of $3.03 and a twelve month high of $7.70. The company has a 50-day moving average price of $6.80 and a 200 day moving average price of $5.65.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of $793.17 million during the quarter, compared to analyst estimates of $771.65 million. During the same period in the prior year, the business earned ($0.02) earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 0.35 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.92%. The ex-dividend date was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

Wall Street Analysts Forecast Growth

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

About Pitney Bowes

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.