Louisiana State Employees Retirement System Invests $338,000 in Pitney Bowes Inc. (NYSE:PBI)

Louisiana State Employees Retirement System purchased a new position in Pitney Bowes Inc. (NYSE:PBI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 76,800 shares of the technology company’s stock, valued at approximately $338,000.

A number of other hedge funds also recently bought and sold shares of PBI. Syon Capital LLC purchased a new stake in Pitney Bowes during the 3rd quarter valued at $32,000. CenterBook Partners LP purchased a new stake in shares of Pitney Bowes during the third quarter valued at $33,000. Allspring Global Investments Holdings LLC raised its position in Pitney Bowes by 50.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock worth $56,000 after buying an additional 6,279 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in Pitney Bowes by 20.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock valued at $70,000 after acquiring an additional 2,753 shares during the period. Finally, Sherbrooke Park Advisers LLC bought a new position in Pitney Bowes during the 3rd quarter valued at about $73,000. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Price Performance

PBI stock opened at $4.22 on Thursday. Pitney Bowes Inc. has a 1 year low of $2.80 and a 1 year high of $4.58. The company has a market cap of $748.88 million, a P/E ratio of -1.92, a price-to-earnings-growth ratio of 27.67 and a beta of 2.16. The stock’s fifty day moving average price is $4.12 and its 200-day moving average price is $4.05.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Pitney Bowes had a negative return on equity of 4.75% and a negative net margin of 11.81%. The business had revenue of $871.58 million during the quarter, compared to the consensus estimate of $849.85 million. During the same period in the previous year, the company posted $0.06 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts expect that Pitney Bowes Inc. will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Monday, February 5th.

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 and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.