Hestia Capital Management LLC Sells 560,719 Shares of Pitney Bowes Inc. $PBI

Hestia Capital Management LLC lessened its holdings in Pitney Bowes Inc. (NYSE:PBI) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,474,326 shares of the technology company’s stock after selling 560,719 shares during the period. Pitney Bowes makes up 83.0% of Hestia Capital Management LLC’s portfolio, making the stock its biggest position. Hestia Capital Management LLC owned about 0.07% of Pitney Bowes worth $130,922,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PBI. Ritholtz Wealth Management acquired a new position in shares of Pitney Bowes in the 3rd quarter worth approximately $150,000. Meritage Portfolio Management bought a new stake in Pitney Bowes in the third quarter valued at $315,000. SG Americas Securities LLC acquired a new position in Pitney Bowes during the third quarter worth $795,000. Longboard Asset Management LP bought a new position in shares of Pitney Bowes during the third quarter valued at $133,000. Finally, Trail Ridge Investment Advisors LLC boosted its stake in shares of Pitney Bowes by 5.1% in the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 20,890 shares of the technology company’s stock valued at $238,000 after purchasing an additional 1,008 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JMP Securities set a $13.00 price target on shares of Pitney Bowes in a report on Wednesday, December 3rd. Citigroup began coverage on shares of Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating for the company. Citizens Jmp initiated coverage on Pitney Bowes in a research report on Wednesday, December 3rd. They set a “market outperform” rating and a $13.00 price target on the stock. The Goldman Sachs Group began coverage on Pitney Bowes in a research report on Monday, November 3rd. They issued a “neutral” rating and a $11.00 price objective for the company. Finally, Truist Financial assumed coverage on Pitney Bowes in a report on Friday, December 12th. They set a “hold” rating and a $11.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Pitney Bowes Trading Down 2.1%

Shares of NYSE PBI opened at $10.52 on Friday. Pitney Bowes Inc. has a 1-year low of $7.18 and a 1-year high of $13.11. The company has a 50-day moving average of $10.08 and a two-hundred day moving average of $10.96. The company has a market cap of $1.69 billion, a PE ratio of 23.37, a P/E/G ratio of 0.50 and a beta of 1.30.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Pitney Bowes had a net margin of 4.14% and a negative return on equity of 38.38%. The company had revenue of $459.68 million during the quarter, compared to analyst estimates of $467.45 million. During the same period in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.300-1.300 EPS. As a group, equities research analysts forecast that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 10th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.4%. This is a boost from Pitney Bowes’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, November 10th. Pitney Bowes’s payout ratio is currently 80.00%.

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.