Susquehanna Fundamental Investments LLC Takes $1.58 Million Position in Pitney Bowes Inc. (NYSE:PBI)

Susquehanna Fundamental Investments LLC acquired a new stake in Pitney Bowes Inc. (NYSE:PBI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 311,445 shares of the technology company’s stock, valued at approximately $1,582,000. Susquehanna Fundamental Investments LLC owned about 0.17% of Pitney Bowes at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cutter & CO Brokerage Inc. increased its holdings in shares of Pitney Bowes by 6.7% in the second quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock worth $162,000 after purchasing an additional 2,000 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after purchasing an additional 2,054 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Pitney Bowes by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock worth $398,000 after purchasing an additional 2,300 shares during the period. ProShare Advisors LLC increased its holdings in shares of Pitney Bowes by 7.5% in the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock worth $151,000 after purchasing an additional 2,440 shares during the period. Finally, Federated Hermes Inc. increased its holdings 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 worth $403,000 after purchasing an additional 5,073 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analyst Ratings Changes

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

Pitney Bowes Stock Down 3.8 %

PBI opened at $6.86 on Wednesday. The stock has a market cap of $1.23 billion, a PE ratio of -3.16, a P/E/G ratio of 1.36 and a beta of 1.98. Pitney Bowes Inc. has a 52 week low of $3.03 and a 52 week high of $7.70. The business’s fifty day simple moving average is $6.80 and its 200 day simple moving average is $5.65.

Pitney Bowes (NYSE:PBI) last released its 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. 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 for the quarter, compared to analysts’ expectations of $771.65 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Pitney Bowes Inc. will post 0.35 earnings per share for the current year.

Pitney Bowes Dividend Announcement

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