Crumly & Associates Inc. Sells 3,332 Shares of Pitney Bowes Inc. (NYSE:PBI)

Crumly & Associates Inc. lessened its position in Pitney Bowes Inc. (NYSE:PBI) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,514 shares of the technology company’s stock after selling 3,332 shares during the quarter. Crumly & Associates Inc.’s holdings in Pitney Bowes were worth $189,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in Pitney Bowes in the first quarter valued at $764,000. BNP Paribas Financial Markets increased its stake in Pitney Bowes by 10.0% in the first quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock valued at $935,000 after acquiring an additional 19,690 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Pitney Bowes in the second quarter valued at $208,000. Quadrature Capital Ltd increased its stake in Pitney Bowes by 21.6% in the first quarter. Quadrature Capital Ltd now owns 66,247 shares of the technology company’s stock valued at $287,000 after acquiring an additional 11,753 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Pitney Bowes by 248.1% in the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after acquiring an additional 503,378 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Down 5.9 %

NYSE PBI opened at $7.58 on Friday. The company has a 50-day simple moving average of $7.03 and a two-hundred day simple moving average of $6.24. Pitney Bowes Inc. has a 12-month low of $3.68 and a 12-month high of $8.80. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -5.05, a PEG ratio of 1.50 and a beta of 1.97.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.10. Pitney Bowes had a negative net margin of 8.05% and a negative return on equity of 5.31%. The business had revenue of $793.17 million during the quarter, compared to analyst estimates of $771.65 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Pitney Bowes Inc. will post 0.35 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 2.64%. Pitney Bowes’s payout ratio is -13.33%.

Analyst Ratings Changes

Separately, StockNews.com cut Pitney Bowes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st.

About Pitney Bowes

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.