Great West Life Assurance Co. Can lowered its holdings in Cubic Co. (NYSE:CUB) by 50.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,216 shares of the scientific and technical instruments company’s stock after selling 125,042 shares during the period. Great West Life Assurance Co. Can owned approximately 0.46% of Cubic worth $9,162,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in Cubic by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 191,967 shares of the scientific and technical instruments company’s stock worth $12,209,000 after buying an additional 4,656 shares during the period. Aperio Group LLC increased its stake in Cubic by 69.9% during the 2nd quarter. Aperio Group LLC now owns 7,932 shares of the scientific and technical instruments company’s stock worth $509,000 after buying an additional 3,262 shares during the period. TD Asset Management Inc. increased its stake in Cubic by 79.3% during the 2nd quarter. TD Asset Management Inc. now owns 34,600 shares of the scientific and technical instruments company’s stock worth $2,221,000 after buying an additional 15,300 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Cubic during the 2nd quarter worth $340,000. Finally, SG Americas Securities LLC increased its stake in Cubic by 33.9% during the 2nd quarter. SG Americas Securities LLC now owns 12,716 shares of the scientific and technical instruments company’s stock worth $816,000 after buying an additional 3,217 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.
CUB has been the topic of several analyst reports. Drexel Hamilton reaffirmed a “buy” rating and set a $85.00 price target on shares of Cubic in a research note on Thursday, August 30th. Needham & Company LLC dropped their price target on shares of Cubic from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, December 3rd. Zacks Investment Research raised shares of Cubic from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, November 21st. ValuEngine lowered shares of Cubic from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 1st. Finally, JPMorgan Chase & Co. raised shares of Cubic from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $75.00 to $73.00 in a report on Friday, November 30th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $74.50.
Shares of CUB stock opened at $55.13 on Friday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 80.04 and a beta of 1.09. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. Cubic Co. has a 1-year low of $52.25 and a 1-year high of $77.35.
Cubic (NYSE:CUB) last announced its quarterly earnings data on Thursday, November 15th. The scientific and technical instruments company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.27). The company had revenue of $379.71 million for the quarter, compared to analyst estimates of $360.27 million. Cubic had a return on equity of 2.79% and a net margin of 0.95%. During the same period in the prior year, the business earned $0.49 earnings per share. Equities analysts forecast that Cubic Co. will post 2.4 earnings per share for the current fiscal year.
In related news, Director David F. Melcher acquired 1,000 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was bought at an average cost of $74.50 per share, with a total value of $74,500.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at $149,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.90% of the stock is owned by company insiders.
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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 four segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), Cubic Mission Solutions (CMS), and Cubic Global Defense Services (CGD Services).
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