72,758 Shares in Pitney Bowes Inc. (NYSE:PBI) Bought by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC purchased a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) during the 3rd quarter, HoldingsChannel reports. The firm purchased 72,758 shares of the technology company’s stock, valued at approximately $519,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PBI. Cutter & CO Brokerage Inc. increased its stake in shares of Pitney Bowes by 6.7% during the second quarter. Cutter & CO Brokerage Inc. now owns 31,933 shares of the technology company’s stock worth $162,000 after purchasing an additional 2,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Pitney Bowes by 15.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after acquiring an additional 2,054 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Pitney Bowes by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 78,300 shares of the technology company’s stock valued at $398,000 after acquiring an additional 2,300 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Pitney Bowes by 7.5% in the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock worth $151,000 after acquiring an additional 2,440 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Pitney Bowes by 6.8% during the second quarter. Federated Hermes Inc. now owns 79,420 shares of the technology company’s stock worth $403,000 after purchasing an additional 5,073 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pitney Bowes Trading Down 0.4 %

NYSE:PBI opened at $7.07 on Friday. Pitney Bowes Inc. has a twelve month low of $3.03 and a twelve month high of $7.70. The company has a market cap of $1.26 billion, a P/E ratio of -3.26, a P/E/G ratio of 1.30 and a beta of 1.97. The company’s 50-day moving average price is $6.96 and its 200-day moving average price is $5.88.

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

Pitney Bowes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.20 annualized dividend and a yield of 2.83%. Pitney Bowes’s payout ratio is -9.22%.

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.