Federated Hermes Inc. Has $302,000 Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Federated Hermes Inc. lowered its stake in Pitney Bowes Inc. (NYSE:PBI) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,675 shares of the technology company’s stock after selling 8,641 shares during the period. Federated Hermes Inc.’s holdings in Pitney Bowes were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PBI. Syon Capital LLC acquired a new stake in shares of Pitney Bowes during the 3rd quarter valued at $32,000. CenterBook Partners LP acquired a new stake in shares of Pitney Bowes during the third quarter valued at about $33,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Pitney Bowes by 50.9% during 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. First Citizens Bank & Trust Co. increased its stake in shares of Pitney Bowes by 20.8% in the fourth 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 during the period. Finally, Sherbrooke Park Advisers LLC bought a new position in Pitney Bowes in the 3rd quarter valued at approximately $73,000. Institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Friday.

Pitney Bowes Stock Up 0.4 %

Shares of Pitney Bowes stock opened at $5.27 on Friday. The stock has a market cap of $936.32 million, a price-to-earnings ratio of -2.43, a P/E/G ratio of 35.00 and a beta of 2.14. Pitney Bowes Inc. has a twelve month low of $2.80 and a twelve month high of $5.51. The company’s fifty day moving average is $4.18 and its 200 day moving average is $4.08.

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

Pitney Bowes Dividend Announcement

The company 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. This represents a $0.20 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, May 22nd. Pitney Bowes’s dividend payout ratio is presently -9.22%.

About Pitney Bowes

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.