Gamco Investors INC. ET AL Buys 124,000 Shares of Pitney Bowes Inc. $PBI

Gamco Investors INC. ET AL raised its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 33.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 491,200 shares of the technology company’s stock after purchasing an additional 124,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Pitney Bowes were worth $5,192,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,015 shares in the last quarter. Advisory Services Network LLC grew its holdings in Pitney Bowes by 2.4% during the third quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company’s stock worth $604,000 after buying an additional 1,234 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Pitney Bowes by 12.5% in the second quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock valued at $144,000 after purchasing an additional 1,459 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Pitney Bowes by 3.4% in the 3rd quarter. Amalgamated Bank now owns 46,680 shares of the technology company’s stock worth $533,000 after buying an additional 1,555 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in Pitney Bowes by 17.6% in the third quarter. Stratos Wealth Partners LTD. now owns 11,993 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,799 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kurt James Wolf sold 966,561 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the completion of the transaction, the chief executive officer owned 452,628 shares of the company’s stock, valued at $6,599,316.24. This trade represents a 68.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brent D. Rosenthal purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $10.22 per share, for a total transaction of $40,880.00. Following the purchase, the director owned 9,000 shares in the company, valued at $91,980. This represents a 80.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,456,054 shares of company stock valued at $34,864,180. 6.50% of the stock is owned by corporate insiders.

Pitney Bowes Price Performance

PBI opened at $15.63 on Wednesday. The business has a 50 day simple moving average of $12.74 and a two-hundred day simple moving average of $11.10. Pitney Bowes Inc. has a one year low of $8.95 and a one year high of $16.56. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.74 and a beta of 1.64.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $477.41 million for the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, May 18th. Pitney Bowes’s payout ratio is 38.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PBI shares. Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and increased their target price for the company from $9.50 to $16.50 in a research report on Monday, May 11th. Truist Financial increased their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. Citigroup reissued an “outperform” rating on shares of Pitney Bowes in a research note on Friday, April 17th. The Goldman Sachs Group set a $15.20 price objective on shares of Pitney Bowes in a research report on Friday, May 8th. Finally, Wall Street Zen raised Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.18.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.