Equitable Trust Co. grew its position in Pitney Bowes Inc. (NYSE:PBI – Free Report) by 9.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,413 shares of the technology company’s stock after purchasing an additional 7,759 shares during the quarter. Equitable Trust Co.’s holdings in Pitney Bowes were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Pitney Bowes by 1.7% in the first quarter. Vanguard Group Inc. now owns 19,956,333 shares of the technology company’s stock valued at $103,773,000 after acquiring an additional 335,612 shares in the last quarter. BlackRock Inc. raised its stake in Pitney Bowes by 1.7% during the 3rd quarter. BlackRock Inc. now owns 17,123,358 shares of the technology company’s stock valued at $39,897,000 after purchasing an additional 285,776 shares during the period. State Street Corp lifted its holdings in Pitney Bowes by 2.1% in the 2nd quarter. State Street Corp now owns 6,410,485 shares of the technology company’s stock worth $23,206,000 after purchasing an additional 130,138 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Pitney Bowes by 40.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,986,689 shares of the technology company’s stock worth $21,672,000 after purchasing an additional 1,711,020 shares during the period. Finally, Capital Management Corp VA grew its holdings in Pitney Bowes by 27.4% during the 2nd quarter. Capital Management Corp VA now owns 4,435,235 shares of the technology company’s stock valued at $15,701,000 after buying an additional 953,485 shares in the last quarter. 70.69% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Friday, November 3rd.
Pitney Bowes Stock Up 5.1 %
Shares of PBI stock opened at $4.12 on Wednesday. The company’s fifty day simple moving average is $3.40 and its two-hundred day simple moving average is $3.45. Pitney Bowes Inc. has a 52 week low of $2.80 and a 52 week high of $4.85. The stock has a market cap of $726.48 million, a P/E ratio of -4.68, a PEG ratio of 26.13 and a beta of 2.23. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 31.86.
Pitney Bowes Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Wednesday, November 15th will be given a $0.05 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.85%. Pitney Bowes’s dividend payout ratio is currently -22.73%.
About Pitney Bowes
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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