Engineers Gate Manager LP Buys 135,357 Shares of Pitney Bowes Inc. $PBI

Engineers Gate Manager LP lifted its stake in Pitney Bowes Inc. (NYSE:PBI) by 474.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,860 shares of the technology company’s stock after purchasing an additional 135,357 shares during the quarter. Engineers Gate Manager LP’s holdings in Pitney Bowes were worth $2,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in Pitney Bowes by 5,373.7% in the 2nd quarter. IFP Advisors Inc now owns 3,120 shares of the technology company’s stock valued at $55,000 after acquiring an additional 3,063 shares in the last quarter. Nykredit A S purchased a new position in shares of Pitney Bowes in the second quarter worth $46,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Pitney Bowes in the second quarter worth $301,000. California State Teachers Retirement System lifted its holdings in shares of Pitney Bowes by 1,606.1% during the second quarter. California State Teachers Retirement System now owns 3,454,611 shares of the technology company’s stock valued at $60,525,000 after purchasing an additional 3,252,127 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of Pitney Bowes by 1.0% during the second quarter. HB Wealth Management LLC now owns 63,088 shares of the technology company’s stock valued at $1,105,000 after buying an additional 642 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $17.11, for a total value of $342,200.00. Following the transaction, the executive vice president directly owned 79,223 shares in the company, valued at approximately $1,355,505.53. This trade represents a 20.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kurt Wolf sold 1,920 shares of Pitney Bowes stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.42, for a total transaction of $33,446.40. Following the transaction, the chief executive officer owned 122,790 shares in the company, valued at $2,139,001.80. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,634,650 shares of company stock worth $28,919,230. 6.50% of the stock is owned by company insiders.

Pitney Bowes Stock Performance

PBI stock opened at $17.05 on Monday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 0.68 and a beta of 1.64. The business’s 50-day moving average is $17.39 and its two-hundred day moving average is $15.18. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $19.07.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. Pitney Bowes had a negative return on equity of 31.37% and a net margin of 10.04%.The business had revenue of $451.50 million during the quarter, compared to the consensus estimate of $453.94 million. During the same period in the previous year, the company posted $0.27 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Pitney Bowes has set its FY 2026 guidance at 1.550-1.700 EPS. Equities analysts predict that Pitney Bowes Inc. will post 1.68 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 10th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Pitney Bowes’s dividend payout ratio (DPR) is presently 32.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Citizens Jmp raised their price target on shares of Pitney Bowes from $19.00 to $22.00 and gave the company a “market outperform” rating in a report on Friday, July 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.30 price target on shares of Pitney Bowes in a report on Thursday, July 30th. Truist Financial lifted their price target on shares of Pitney Bowes from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Finally, Citigroup restated a “market outperform” rating on shares of Pitney Bowes in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.45.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE:PBI) is a global technology, shipping and mailing company that provides solutions for businesses managing physical and digital communications, parcels and mail. Its offerings include mailing and shipping equipment, software, supplies, services and financing options designed to help organizations process, track and deliver items.

The company operates through businesses focused on shipping and mailing technology and presort services. Its products and services include postage meters and other mailroom equipment, cloud-based shipping and mailing software, parcel management tools, address and data services, and outsourced mail processing.