Truvestments Capital LLC Purchases Shares of 12,000 Pitney Bowes Inc. (NYSE:PBI)

Truvestments Capital LLC acquired a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,000 shares of the technology company’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in Pitney Bowes by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock valued at $151,000 after buying an additional 2,440 shares in the last quarter. Quadrature Capital Ltd grew its stake in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in Pitney Bowes by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock worth $957,000 after acquiring an additional 8,305 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Pitney Bowes by 10.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 98,956 shares of the technology company’s stock worth $428,000 after purchasing an additional 9,222 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in Pitney Bowes in the 1st quarter valued at about $764,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Trading Up 0.5 %

NYSE:PBI opened at $8.20 on Wednesday. Pitney Bowes Inc. has a fifty-two week low of $3.68 and a fifty-two week high of $8.80. The stock has a fifty day moving average price of $7.24 and a 200-day moving average price of $6.49.

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

Pitney Bowes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Monday, November 18th. Pitney Bowes’s payout ratio is presently -9.17%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, Director Paul J. Evans acquired 29,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the transaction, the director now directly owns 29,000 shares in the company, valued at $226,200. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 14.30% of the company’s stock.

Pitney Bowes Company 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.