Cutter & CO Brokerage Inc. Lowers Stake in Pitney Bowes Inc. (NYSE:PBI)

Cutter & CO Brokerage Inc. decreased its position in Pitney Bowes Inc. (NYSE:PBI) by 29.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,933 shares of the technology company’s stock after selling 15,767 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Pitney Bowes were worth $167,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in shares of Pitney Bowes by 98.5% in the third quarter. Strs Ohio now owns 52,000 shares of the technology company’s stock valued at $157,000 after purchasing an additional 25,800 shares during the period. Allspring Global Investments Holdings LLC boosted 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 valued at $56,000 after buying an additional 6,279 shares during the period. Capital Management Corp VA grew its stake in shares of Pitney Bowes by 2.3% in the third quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock worth $13,709,000 after acquiring an additional 104,190 shares in the last quarter. Syon Capital LLC acquired a new stake in shares of Pitney Bowes in the third quarter valued at $32,000. Finally, Illinois Municipal Retirement Fund purchased a new position in Pitney Bowes in the third quarter valued at $327,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Pitney Bowes Trading Up 1.0 %

NYSE:PBI traded up $0.04 during mid-day trading on Wednesday, hitting $4.24. The stock had a trading volume of 663,482 shares, compared to its average volume of 1,421,946. Pitney Bowes Inc. has a twelve month low of $2.80 and a twelve month high of $4.58. The stock has a 50-day simple moving average of $4.10 and a two-hundred day simple moving average of $4.03. The company has a market capitalization of $753.32 million, a PE ratio of -1.91, a PEG ratio of 28.00 and a beta of 2.16.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $871.58 million for the quarter, compared to analyst estimates of $849.85 million. Pitney Bowes had a negative net margin of 11.81% and a negative return on equity of 4.75%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. Sell-side analysts predict that Pitney Bowes Inc. will post 0.01 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, February 9th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 annualized dividend and a dividend yield of 4.72%. Pitney Bowes’s dividend payout ratio is currently -9.13%.

Pitney Bowes 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.