VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 198,720 Pitney Bowes Inc. $PBI

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Pitney Bowes Inc. (NYSE:PBI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 198,720 shares of the technology company’s stock, valued at approximately $2,100,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Pitney Bowes by 3.1% during the 2nd quarter. State Street Corp now owns 6,366,188 shares of the technology company’s stock worth $69,455,000 after acquiring an additional 188,886 shares during the period. Cannell & Spears LLC boosted its stake in shares of Pitney Bowes by 89.5% during the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock worth $38,389,000 after acquiring an additional 1,588,579 shares during the period. Capital Management Corp VA boosted its stake in shares of Pitney Bowes by 25.3% during the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company’s stock worth $30,974,000 after acquiring an additional 592,568 shares during the period. Invesco Ltd. boosted its stake in shares of Pitney Bowes by 29.5% during the 3rd quarter. Invesco Ltd. now owns 2,622,003 shares of the technology company’s stock worth $29,917,000 after acquiring an additional 597,938 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Pitney Bowes by 34.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,877,315 shares of the technology company’s stock worth $21,418,000 after acquiring an additional 480,701 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citizens Jmp lifted their target price on Pitney Bowes from $13.00 to $14.00 and gave the stock a “market outperform” rating in a research note on Friday, April 17th. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Bank of America upgraded Pitney Bowes from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. Weiss Ratings upgraded Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pitney Bowes currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.18.

Pitney Bowes Trading Down 0.6%

NYSE:PBI opened at $15.73 on Friday. The stock has a market cap of $2.13 billion, a P/E ratio of 15.27, a PEG ratio of 0.71 and a beta of 1.64. The stock has a 50 day simple moving average of $12.52 and a 200 day simple moving average of $11.04. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $16.52.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $477.41 million during the quarter, compared to analysts’ expectations of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. As a group, sell-side analysts forecast that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Monday, May 18th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is presently 38.83%.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, CEO Kurt James Wolf sold 389,161 shares of Pitney Bowes stock in a transaction on Friday, May 8th. The stock was sold at an average price of $15.69, for a total value of $6,105,936.09. Following the completion of the transaction, the chief executive officer directly owned 363,853 shares of the company’s stock, valued at $5,708,853.57. The trade was a 51.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brent D. Rosenthal acquired 4,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $10.22 per share, with a total value of $40,880.00. Following the completion of the acquisition, the director directly owned 9,000 shares in the company, valued at approximately $91,980. This represents a 80.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 2,456,054 shares of company stock valued at $34,864,180. 6.50% of the stock is currently owned by insiders.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.