B. Riley Wealth Advisors Inc. lessened its position in Pitney Bowes Inc. (NYSE:PBI – Free Report) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,859 shares of the technology company’s stock after selling 9,667 shares during the quarter. B. Riley Wealth Advisors Inc. owned about 0.06% of Pitney Bowes worth $371,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Pitney Bowes by 341.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,970 shares of the technology company’s stock worth $27,000 after purchasing an additional 5,392 shares during the period. Baird Financial Group Inc. bought a new position in shares of Pitney Bowes during the 3rd quarter worth about $28,000. Barrett & Company Inc. bought a new position in shares of Pitney Bowes during the 1st quarter worth about $33,000. Point72 Middle East FZE bought a new position in shares of Pitney Bowes during the 4th quarter worth about $34,000. Finally, Xponance Inc. bought a new position in shares of Pitney Bowes during the 2nd quarter worth about $36,000. Institutional investors own 70.69% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on shares of Pitney Bowes in a research report on Thursday, October 5th. They set a “hold” rating on the stock.
Pitney Bowes Price Performance
Shares of Pitney Bowes stock opened at $3.40 on Friday. The company has a debt-to-equity ratio of 31.86, a quick ratio of 0.82 and a current ratio of 0.87. The firm’s 50-day simple moving average is $3.35 and its 200-day simple moving average is $3.46. Pitney Bowes Inc. has a twelve month low of $2.80 and a twelve month high of $4.85. The firm has a market cap of $598.50 million, a P/E ratio of -4.36, a price-to-earnings-growth ratio of 4.64 and a beta of 2.21.
Pitney Bowes (NYSE:PBI – Get Free Report) last issued its earnings results on Thursday, August 3rd. The technology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Pitney Bowes had a negative net margin of 4.10% and a positive return on equity of 9.19%. The business had revenue of $776.50 million for the quarter, compared to analyst estimates of $809.61 million. During the same quarter last year, the firm posted $0.02 earnings per share. Pitney Bowes’s revenue was down 10.9% on a year-over-year basis. As a group, research analysts expect that Pitney Bowes Inc. will post 0.05 EPS for the current fiscal year.
Pitney Bowes Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.20 annualized dividend and a dividend yield of 5.88%. Pitney Bowes’s dividend payout ratio (DPR) is currently -25.64%.
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, Canada, and internationally. It operates through Global Ecommerce, Presort Services, and Sending Technology Solutions (SendTech Solutions) segments.
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