Clifford Capital Partners LLC Has $19.49 Million Holdings in Pitney Bowes Inc. (NYSE:PBI)

Clifford Capital Partners LLC lessened its stake in Pitney Bowes Inc. (NYSE:PBI) by 25.4% during the third quarter, HoldingsChannel reports. The firm owned 2,734,111 shares of the technology company’s stock after selling 930,972 shares during the period. Pitney Bowes comprises approximately 3.9% of Clifford Capital Partners LLC’s portfolio, making the stock its 4th biggest holding. Clifford Capital Partners LLC’s holdings in Pitney Bowes were worth $19,494,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PBI. nVerses Capital LLC purchased a new position in shares of Pitney Bowes during the 2nd quarter valued at $48,000. Point72 DIFC Ltd increased its stake in shares of Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after purchasing an additional 7,819 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake 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 worth $77,000 after purchasing an additional 2,054 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Pitney Bowes by 3,412.2% in the second quarter. Fifth Third Bancorp now owns 16,648 shares of the technology company’s stock valued at $85,000 after purchasing an additional 16,174 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Pitney Bowes during the 3rd quarter valued at approximately $86,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Trading Up 0.5 %

Shares of NYSE:PBI opened at $8.20 on Wednesday. The company has a 50 day moving average of $7.27 and a 200 day moving average of $6.51. The stock has a market cap of $1.49 billion, a P/E ratio of -3.76, a P/E/G ratio of 1.43 and a beta of 1.97. Pitney Bowes Inc. has a 12 month low of $3.68 and a 12 month high of $8.80.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The firm 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%. On average, equities analysts forecast that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

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

Insider Activity

In other news, Director Paul J. Evans acquired 29,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the acquisition, the director now owns 29,000 shares of the company’s stock, valued at $226,200. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.30% of the company’s stock.

Analyst Ratings Changes

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

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.