NJ State Employees Deferred Compensation Plan decreased its position in Cubic Co. (NYSE:CUB) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,000 shares of the scientific and technical instruments company’s stock after selling 1,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Cubic were worth $838,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Parallel Advisors LLC purchased a new position in Cubic in the 1st quarter worth about $39,000. Penserra Capital Management LLC raised its position in Cubic by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 822 shares of the scientific and technical instruments company’s stock worth $46,000 after buying an additional 274 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Cubic by 21.7% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,731 shares of the scientific and technical instruments company’s stock worth $97,000 after buying an additional 309 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cubic by 32.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,389 shares of the scientific and technical instruments company’s stock worth $134,000 after buying an additional 583 shares during the last quarter. Finally, Gofen & Glossberg LLC IL purchased a new position in Cubic in the 2nd quarter worth about $205,000. 94.97% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on CUB. Zacks Investment Research raised shares of Cubic from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Wednesday. Raymond James raised shares of Cubic from an “outperform” rating to a “strong-buy” rating and set a $82.00 price target for the company in a research report on Monday, May 13th. Finally, ValuEngine raised shares of Cubic from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.58.
In other news, Director John H. Warner, Jr. bought 2,500 shares of Cubic stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average cost of $59.50 per share, with a total value of $148,750.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edwin A. Guiles bought 2,716 shares of Cubic stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $59.80 per share, with a total value of $162,416.80. Following the completion of the acquisition, the director now directly owns 14,022 shares in the company, valued at approximately $838,515.60. The disclosure for this purchase can be found here. Insiders purchased a total of 12,371 shares of company stock valued at $742,609 over the last three months. 0.51% of the stock is currently owned by insiders.
Shares of NYSE CUB traded down $0.61 during midday trading on Friday, hitting $65.07. 329,654 shares of the company’s stock traded hands, compared to its average volume of 255,330. Cubic Co. has a 1 year low of $50.61 and a 1 year high of $77.35. The stock has a market capitalization of $2.05 billion, a PE ratio of 101.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.35 and a quick ratio of 1.12. The company has a fifty day moving average price of $65.34.
Cubic (NYSE:CUB) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.44. The firm had revenue of $337.30 million during the quarter, compared to analyst estimates of $326.88 million. Cubic had a net margin of 0.62% and a return on equity of 3.44%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. On average, analysts predict that Cubic Co. will post 3.27 EPS for the current year.
Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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