Public Sector Pension investment Board Cuts Stake in TrueBlue, Inc. (TBI)

Public Sector Pension investment Board lowered its position in shares of TrueBlue, Inc. (NYSE:TBI) by 27.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,745 shares of the business services provider’s stock after selling 8,300 shares during the quarter. Public Sector Pension investment Board owned approximately 0.05% of TrueBlue worth $576,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Citigroup Inc. boosted its holdings in shares of TrueBlue by 251.1% in the 2nd quarter. Citigroup Inc. now owns 158,172 shares of the business services provider’s stock valued at $4,192,000 after purchasing an additional 113,118 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of TrueBlue by 709.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 44,517 shares of the business services provider’s stock valued at $1,180,000 after purchasing an additional 39,014 shares during the last quarter. Menta Capital LLC boosted its holdings in shares of TrueBlue by 17.4% in the 2nd quarter. Menta Capital LLC now owns 138,458 shares of the business services provider’s stock valued at $3,669,000 after purchasing an additional 20,527 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of TrueBlue by 5.0% in the 2nd quarter. New York State Common Retirement Fund now owns 78,099 shares of the business services provider’s stock valued at $2,070,000 after purchasing an additional 3,736 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of TrueBlue by 87.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 130,070 shares of the business services provider’s stock valued at $3,447,000 after purchasing an additional 60,650 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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In other TrueBlue news, EVP Wayne W. Larkin sold 10,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $20.38, for a total value of $203,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

TrueBlue (NYSE:TBI) last issued its quarterly earnings results on Monday, July 31st. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. TrueBlue had a return on equity of 15.18% and a net margin of 2.27%. The firm had revenue of $610.10 million for the quarter, compared to analyst estimates of $610.04 million. During the same period in the previous year, the firm earned $0.54 earnings per share. The company’s revenue was down 9.3% compared to the same quarter last year.

A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. TheStreet raised shares of TrueBlue from a “c” rating to a “b” rating in a report on Monday, July 31st. BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 price target (down from $26.00) on shares of TrueBlue in a report on Friday, August 11th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $25.00 price target on shares of TrueBlue in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.25.

TrueBlue Profile

TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.

Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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