Pitney Bowes Inc. (NYSE:PBI) Position Boosted by Contrarian Capital Management L.L.C.

Contrarian Capital Management L.L.C. raised its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,000 shares of the technology company’s stock after acquiring an additional 5,000 shares during the quarter. Pitney Bowes makes up 0.3% of Contrarian Capital Management L.L.C.’s investment portfolio, making the stock its 22nd largest holding. Contrarian Capital Management L.L.C.’s holdings in Pitney Bowes were worth $1,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PBI. National Bank of Canada FI bought a new stake in shares of Pitney Bowes in the 4th quarter valued at approximately $30,000. CenterBook Partners LP bought a new stake in shares of Pitney Bowes in the 3rd quarter valued at approximately $33,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Pitney Bowes in the 4th quarter valued at approximately $55,000. First Citizens Bank & Trust Co. grew its stake in shares of Pitney Bowes by 20.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock valued at $70,000 after buying an additional 2,753 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Pitney Bowes by 50.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock valued at $56,000 after buying an additional 6,279 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Pitney Bowes from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd.

Pitney Bowes Stock Performance

Shares of NYSE PBI traded up $0.08 during trading hours on Friday, hitting $5.42. The stock had a trading volume of 1,210,810 shares, compared to its average volume of 1,498,804. The company has a market capitalization of $969.53 million, a P/E ratio of -2.46, a P/E/G ratio of 34.27 and a beta of 2.14. The firm’s 50-day moving average price is $4.62 and its two-hundred day moving average price is $4.29. Pitney Bowes Inc. has a 52 week low of $2.80 and a 52 week high of $5.78.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Thursday, May 2nd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $831.00 million during the quarter, compared to analysts’ expectations of $797.00 million. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. As a group, analysts expect that Pitney Bowes Inc. will post 0.01 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.20 dividend on an annualized basis and a yield of 3.69%. Pitney Bowes’s payout ratio is currently -9.22%.

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.