EntryPoint Capital LLC Takes $190,000 Position in Pitney Bowes Inc. (NYSE:PBI)

EntryPoint Capital LLC bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 26,229 shares of the technology company’s stock, valued at approximately $190,000.

A number of other large investors have also recently made changes to their positions in PBI. Prudential Financial Inc. grew its position in shares of Pitney Bowes by 49.8% during the 4th quarter. Prudential Financial Inc. now owns 747,634 shares of the technology company’s stock valued at $5,413,000 after acquiring an additional 248,513 shares during the period. Vanguard Group Inc. lifted its position in Pitney Bowes by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company’s stock worth $153,217,000 after buying an additional 1,299,716 shares in the last quarter. LPL Financial LLC raised its stake in Pitney Bowes by 17.5% during the fourth quarter. LPL Financial LLC now owns 233,597 shares of the technology company’s stock worth $1,691,000 after purchasing an additional 34,717 shares during the period. Fox Run Management L.L.C. raised its position in shares of Pitney Bowes by 161.9% during the 4th quarter. Fox Run Management L.L.C. now owns 37,468 shares of the technology company’s stock valued at $271,000 after buying an additional 23,161 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Pitney Bowes in the fourth quarter valued at about $269,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Price Performance

Shares of NYSE:PBI opened at $9.31 on Friday. The firm has a market capitalization of $1.70 billion, a P/E ratio of -8.31, a P/E/G ratio of 0.59 and a beta of 2.02. The company’s fifty day moving average price is $9.45 and its 200 day moving average price is $8.08. Pitney Bowes Inc. has a 12 month low of $3.90 and a 12 month high of $11.01.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. On average, sell-side analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Friday, February 21st. This is a positive change from Pitney Bowes’s previous quarterly dividend of $0.05. Pitney Bowes’s payout ratio is currently -21.43%.

Insiders Place Their Bets

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the completion of the sale, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kurt James Wolf sold 1,250,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $9.66, for a total value of $12,075,000.00. Following the transaction, the director now owns 622,250 shares in the company, valued at approximately $6,010,935. This represents a 66.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,974,484 shares of company stock valued at $19,815,631 in the last quarter. 14.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 3rd.

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