California Public Employees Retirement System decreased its stake in Cubic Corp. (NYSE:CUB) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 57,100 shares of the company’s stock after selling 1,600 shares during the period. California Public Employees Retirement System owned 0.21% of Cubic Corp. worth $2,293,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Cubic Corp. during the second quarter worth about $130,000. Legal & General Group Plc raised its position in Cubic Corp. by 5.9% in the first quarter. Legal & General Group Plc now owns 4,870 shares of the company’s stock worth $194,000 after buying an additional 273 shares during the period. Capstone Asset Management Co. raised its position in Cubic Corp. by 3.7% in the second quarter. Capstone Asset Management Co. now owns 7,346 shares of the company’s stock worth $295,000 after buying an additional 260 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in Cubic Corp. during the second quarter worth about $303,000. Finally, BNP Paribas Arbitrage SA raised its position in Cubic Corp. by 64.4% in the second quarter. BNP Paribas Arbitrage SA now owns 9,145 shares of the company’s stock worth $367,000 after buying an additional 3,581 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.
Cubic Corp. (NYSE:CUB) traded up 0.15% during mid-day trading on Monday, hitting $46.88. The stock had a trading volume of 54,139 shares. The stock has a market cap of $1.27 billion, a P/E ratio of 43.49 and a beta of 1.12. Cubic Corp. has a one year low of $30.11 and a one year high of $49.79. The company has a 50 day moving average price of $46.90 and a 200 day moving average price of $42.26.
Cubic Corp. (NYSE:CUB) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.12. The firm had revenue of $375.20 million for the quarter, compared to analyst estimates of $387.41 million. Cubic Corp. had a return on equity of 5.60% and a net margin of 1.97%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, equities analysts anticipate that Cubic Corp. will post $0.92 EPS for the current year.
The company also recently disclosed a semiannual dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.135 per share. The ex-dividend date was Monday, August 29th. This represents a dividend yield of 0.65%. Cubic Corp.’s payout ratio is 24.77%.
A number of analysts have weighed in on the company. Canaccord Genuity restated a “buy” rating and issued a $50.00 price target on shares of Cubic Corp. in a research note on Thursday, August 11th. Needham & Company LLC upgraded Cubic Corp. from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Monday, August 1st. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Cubic Corp. in a research note on Saturday, July 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.80.
About Cubic Corp.
Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates through three segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems) and Cubic Global Defense Services (CGD Services).
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