Trueblue Inc (TBI) Position Boosted by Bank of Montreal Can

Bank of Montreal Can raised its stake in shares of Trueblue Inc (NYSE:TBI) by 17.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 138,482 shares of the business services provider’s stock after purchasing an additional 20,592 shares during the period. Bank of Montreal Can’s holdings in Trueblue were worth $3,607,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Systematic Financial Management LP boosted its stake in shares of Trueblue by 3.9% during the 2nd quarter. Systematic Financial Management LP now owns 54,415 shares of the business services provider’s stock valued at $1,466,000 after buying an additional 2,030 shares during the period. Alpha Windward LLC boosted its stake in shares of Trueblue by 11.5% during the 2nd quarter. Alpha Windward LLC now owns 19,740 shares of the business services provider’s stock valued at $532,000 after buying an additional 2,040 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of Trueblue by 9.8% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 24,360 shares of the business services provider’s stock valued at $657,000 after buying an additional 2,184 shares during the period. Strs Ohio boosted its stake in shares of Trueblue by 8.0% during the 2nd quarter. Strs Ohio now owns 36,600 shares of the business services provider’s stock valued at $986,000 after buying an additional 2,700 shares during the period. Finally, Reinhart Partners Inc. boosted its stake in shares of Trueblue by 5.5% during the 2nd quarter. Reinhart Partners Inc. now owns 54,050 shares of the business services provider’s stock valued at $1,457,000 after buying an additional 2,840 shares during the period. 92.25% of the stock is owned by institutional investors.

TBI stock opened at $24.25 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.98 and a quick ratio of 1.98. Trueblue Inc has a 1 year low of $22.71 and a 1 year high of $29.85. The firm has a market capitalization of $985.20 million, a P/E ratio of 13.94 and a beta of 1.88.

In related news, CEO Steven C. Cooper sold 55,000 shares of Trueblue stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $28.35, for a total value of $1,559,250.00. Following the completion of the sale, the chief executive officer now owns 196,983 shares of the company’s stock, valued at approximately $5,584,468.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sean A. Ebner sold 1,211 shares of Trueblue stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $28.50, for a total transaction of $34,513.50. Following the completion of the sale, the executive vice president now directly owns 13,989 shares of the company’s stock, valued at approximately $398,686.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of Trueblue from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Credit Suisse Group assumed coverage on shares of Trueblue in a research note on Friday, August 10th. They set a “neutral” rating and a $31.00 target price for the company. Zacks Investment Research lowered shares of Trueblue from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. Robert W. Baird reissued a “hold” rating and set a $28.00 target price on shares of Trueblue in a research note on Tuesday, July 31st. Finally, TheStreet raised shares of Trueblue from a “c” rating to a “b-” rating in a research note on Wednesday, August 1st. Five analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $29.75.

Trueblue Company Profile

TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

Further Reading: Understanding each part of a balance sheet

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Institutional Ownership by Quarter for Trueblue (NYSE:TBI)

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