AlphaQuest LLC Has $680,000 Stock Holdings in Pitney Bowes Inc. $PBI

AlphaQuest LLC grew its holdings in Pitney Bowes Inc. (NYSE:PBI) by 190.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,321 shares of the technology company’s stock after buying an additional 40,842 shares during the quarter. AlphaQuest LLC’s holdings in Pitney Bowes were worth $680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. New York State Teachers Retirement System increased its stake in shares of Pitney Bowes by 0.5% in the second quarter. New York State Teachers Retirement System now owns 257,827 shares of the technology company’s stock valued at $2,813,000 after buying an additional 1,246 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pitney Bowes by 16.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,896 shares of the technology company’s stock valued at $182,000 after buying an additional 2,194 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Pitney Bowes by 4.3% in the first quarter. Atria Wealth Solutions Inc. now owns 85,340 shares of the technology company’s stock valued at $772,000 after buying an additional 3,500 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Pitney Bowes in the first quarter valued at $36,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Pitney Bowes by 8.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,409 shares of the technology company’s stock valued at $547,000 after buying an additional 4,866 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Trading Up 0.8%

Pitney Bowes stock opened at $11.87 on Tuesday. The firm has a market capitalization of $2.04 billion, a P/E ratio of -19.78, a PEG ratio of 0.60 and a beta of 1.27. Pitney Bowes Inc. has a 1 year low of $6.88 and a 1 year high of $13.11. The business has a 50-day moving average of $11.60 and a 200-day moving average of $10.75.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $461.91 million during the quarter, compared to analyst estimates of $475.92 million. Pitney Bowes had a negative return on equity of 38.01% and a negative net margin of 5.60%.The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes declared that its Board of Directors has initiated a stock buyback plan on Wednesday, July 30th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 18.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Pitney Bowes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 11th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, August 11th. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.07. Pitney Bowes’s dividend payout ratio is presently -53.33%.

Insider Activity

In related news, Director Brent D. Rosenthal bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $11.97 per share, for a total transaction of $35,910.00. Following the transaction, the director owned 3,000 shares of the company’s stock, valued at $35,910. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PBI shares. Wall Street Zen lowered Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Pitney Bowes in a report on Wednesday, October 8th. One research 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.com, Pitney Bowes has an average rating of “Reduce”.

Pitney Bowes 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.