Triasima Portfolio Management inc. Makes New Investment in Pitney Bowes Inc. $PBI

Triasima Portfolio Management inc. bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 48,545 shares of the technology company’s stock, valued at approximately $530,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Pitney Bowes during the 1st quarter worth approximately $36,000. KBC Group NV bought a new position in shares of Pitney Bowes during the 1st quarter worth approximately $65,000. United Services Automobile Association bought a new position in shares of Pitney Bowes during the 1st quarter worth approximately $96,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Pitney Bowes during the 1st quarter worth approximately $98,000. Finally, PFG Investments LLC lifted its position in shares of Pitney Bowes by 14.6% during the 1st quarter. PFG Investments LLC now owns 12,884 shares of the technology company’s stock worth $117,000 after buying an additional 1,644 shares during the period. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Price Performance

PBI stock opened at $11.02 on Wednesday. The business has a fifty day moving average price of $11.58 and a 200 day moving average price of $10.48. Pitney Bowes Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $13.11. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -18.36, a P/E/G ratio of 0.56 and a beta of 1.27.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The firm had revenue of $461.91 million during the quarter, compared to analysts’ expectations of $475.92 million. During the same period last year, the firm posted $0.03 EPS. The business’s revenue was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. On average, equities analysts expect that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes announced that its Board of Directors has approved a share repurchase program on Wednesday, July 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Pitney Bowes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were paid a $0.08 dividend. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.32 annualized dividend and a dividend yield of 2.9%. Pitney Bowes’s payout ratio is -53.33%.

Insider Buying and Selling at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of Pitney Bowes stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.14, for a total value of $424,900.00. Following the completion of the sale, the executive vice president directly owned 115,405 shares of the company’s stock, valued at approximately $1,401,016.70. This trade represents a 23.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brent D. Rosenthal bought 3,000 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average cost of $11.97 per share, with a total value of $35,910.00. Following the completion of the purchase, the director directly owned 3,000 shares in the company, valued at approximately $35,910. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 9.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PBI shares. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Pitney Bowes in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

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.