Quarry LP Has $59,000 Stake in Pitney Bowes Inc. (NYSE:PBI)

Quarry LP boosted its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 889.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,319 shares of the technology company’s stock after buying an additional 7,478 shares during the quarter. Quarry LP’s holdings in Pitney Bowes were worth $59,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Pitney Bowes by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock worth $10,754,000 after acquiring an additional 21,811 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Pitney Bowes by 2,894.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock worth $8,760,000 after purchasing an additional 1,187,531 shares during the period. Marshall Wace LLP increased its position in shares of Pitney Bowes by 248.1% during the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after buying an additional 503,378 shares during the period. Renaissance Technologies LLC increased its position in shares of Pitney Bowes by 3.8% during the second quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock worth $2,639,000 after buying an additional 19,000 shares during the period. Finally, Rhumbline Advisers raised its stake in Pitney Bowes by 2.1% during the second quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock worth $2,581,000 after buying an additional 10,646 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

Shares of PBI opened at $7.88 on Tuesday. The firm has a market cap of $1.43 billion, a PE ratio of -3.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.97. Pitney Bowes Inc. has a 52-week low of $3.68 and a 52-week high of $8.80. The business’s 50 day moving average price is $7.43 and its two-hundred day moving average price is $6.68.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The company had revenue of $499.46 million during the quarter, compared to analyst estimates of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. Research analysts predict that Pitney Bowes Inc. will post 0.38 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $0.05 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.54%. Pitney Bowes’s dividend payout ratio is presently -9.17%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Pitney Bowes

In other news, EVP Lauren Freemen-Bosworth sold 42,308 shares of Pitney Bowes stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at $151,551.68. This trade represents a 69.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul J. Evans bought 29,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $7.80 per share, with a total value of $226,200.00. Following the completion of the transaction, the director now owns 29,000 shares of the company’s stock, valued at $226,200. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 14.30% of the stock is currently owned by corporate insiders.

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.