Pitney Bowes Inc. (NYSE:PBI) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 33.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 880,300 shares of the technology company’s stock after buying an additional 221,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Pitney Bowes were worth $6,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. James J. Burns & Company LLC increased its holdings in Pitney Bowes by 9.7% in the 4th quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,637 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Pitney Bowes by 11.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,878 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Pitney Bowes by 10.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after purchasing an additional 2,020 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Pitney Bowes by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company’s stock worth $740,000 after purchasing an additional 2,711 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after buying an additional 2,873 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 31st.

Insider Activity

In other Pitney Bowes news, EVP James Arthur Fairweather sold 130,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total value of $1,407,900.00. Following the transaction, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. The trade was a 42.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kurt James Wolf sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total transaction of $12,075,000.00. Following the sale, the director now owns 622,250 shares of the company’s stock, valued at $6,010,935. This represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,974,484 shares of company stock worth $19,815,631 over the last ninety days. Corporate insiders own 9.00% of the company’s stock.

Pitney Bowes Stock Performance

NYSE PBI opened at $7.81 on Tuesday. The business has a fifty day moving average price of $9.33 and a 200 day moving average price of $8.24. The company has a market cap of $1.43 billion, a P/E ratio of -6.97, a P/E/G ratio of 0.59 and a beta of 1.89. Pitney Bowes Inc. has a one year low of $4.04 and a one year high of $11.01.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. As a group, sell-side analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were issued a dividend of $0.06 per share. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, February 21st. Pitney Bowes’s payout ratio is currently -21.43%.

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.