Cutter & CO Brokerage Inc. Cuts Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Cutter & CO Brokerage Inc. reduced its position in Pitney Bowes Inc. (NYSE:PBI) by 29.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,933 shares of the technology company’s stock after selling 15,767 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Pitney Bowes were worth $167,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PBI. Syon Capital LLC bought a new stake in Pitney Bowes in the 3rd quarter worth about $32,000. CenterBook Partners LP purchased a new position in shares of Pitney Bowes during the third quarter valued at approximately $33,000. First Citizens Bank & Trust Co. lifted its position in Pitney Bowes by 20.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock valued at $70,000 after purchasing an additional 2,753 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Pitney Bowes by 50.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock worth $56,000 after purchasing an additional 6,279 shares during the last quarter. Finally, Camelot Portfolios LLC grew its position in Pitney Bowes by 33.3% in the 4th quarter. Camelot Portfolios LLC now owns 20,000 shares of the technology company’s stock worth $88,000 after purchasing an additional 5,000 shares during the period. 67.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Monday, February 5th.

Pitney Bowes Price Performance

Shares of NYSE:PBI traded up $0.04 during trading on Wednesday, hitting $4.24. The company’s stock had a trading volume of 663,482 shares, compared to its average volume of 1,421,946. The company has a 50-day moving average of $4.10 and a 200-day moving average of $4.03. The firm has a market cap of $753.32 million, a price-to-earnings ratio of -1.91, a P/E/G ratio of 28.00 and a beta of 2.16. Pitney Bowes Inc. has a 12 month low of $2.80 and a 12 month high of $4.58.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. Pitney Bowes had a negative net margin of 11.81% and a negative return on equity of 4.75%. The business had revenue of $871.58 million for the quarter, compared to analysts’ expectations of $849.85 million. During the same quarter last year, the company posted $0.06 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Pitney Bowes Inc. will post 0.01 earnings per share for the current year.

Pitney Bowes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, February 9th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Thursday, February 8th. Pitney Bowes’s dividend payout ratio (DPR) is currently -9.13%.

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.