Franklin Resources Inc. Has $6.15 Million Position in Pitney Bowes Inc. $PBI

Franklin Resources Inc. cut its holdings in Pitney Bowes Inc. (NYSE:PBI) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 563,770 shares of the technology company’s stock after selling 5,538 shares during the quarter. Franklin Resources Inc.’s holdings in Pitney Bowes were worth $6,151,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Hennessy Advisors Inc. acquired a new position in Pitney Bowes in the 2nd quarter worth $12,660,000. Vanguard Group Inc. boosted its position in shares of Pitney Bowes by 0.7% during the first quarter. Vanguard Group Inc. now owns 21,313,865 shares of the technology company’s stock worth $192,890,000 after buying an additional 151,353 shares during the period. Nuveen LLC bought a new position in shares of Pitney Bowes during the first quarter worth about $5,322,000. Informed Momentum Co LLC bought a new position in shares of Pitney Bowes during the first quarter worth about $3,316,000. Finally, Federated Hermes Inc. raised its position in Pitney Bowes by 407.1% in the 1st quarter. Federated Hermes Inc. now owns 518,220 shares of the technology company’s stock valued at $4,690,000 after buying an additional 416,023 shares during the last quarter. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Trading Down 0.1%

NYSE:PBI opened at $9.86 on Monday. The stock has a market capitalization of $1.59 billion, a PE ratio of 21.91, a P/E/G ratio of 0.57 and a beta of 1.27. Pitney Bowes Inc. has a 1-year low of $6.88 and a 1-year high of $13.11. The firm has a fifty day simple moving average of $10.58 and a 200 day simple moving average of $10.95.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Pitney Bowes had a negative return on equity of 40.31% and a net margin of 4.14%.The firm had revenue of $459.68 million for the quarter, compared to the consensus estimate of $467.45 million. During the same period last year, the company posted $0.21 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. On average, equities analysts predict that Pitney Bowes Inc. will post 1.21 earnings per share for the current fiscal year.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, November 10th will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, November 10th. This is an increase from Pitney Bowes’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 3.7%. Pitney Bowes’s dividend payout ratio is 80.00%.

Insiders Place Their Bets

In other Pitney Bowes news, Director Brent D. Rosenthal purchased 3,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average price of $11.97 per share, with a total value of $35,910.00. Following the completion of the transaction, the director directly owned 3,000 shares in the company, valued at $35,910. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PBI. Wall Street Zen downgraded Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a report on Tuesday, November 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They issued a “neutral” rating and a $11.00 price target on the stock. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.00.

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.