Great West Life Assurance Co. Can trimmed its position in shares of Cubic Co. (NYSE:CUB) by 50.0% in the third quarter, HoldingsChannel.com reports. The firm 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’s holdings in Cubic were worth $9,162,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Cubic during the 3rd quarter worth about $17,899,000. BlackRock Inc. raised its position in shares of Cubic by 4.1% during the 2nd quarter. BlackRock Inc. now owns 4,347,887 shares of the scientific and technical instruments company’s stock worth $279,135,000 after buying an additional 172,274 shares in the last quarter. Castleark Management LLC bought a new stake in shares of Cubic during the 2nd quarter worth about $9,245,000. Pier Capital LLC raised its position in shares of Cubic by 94.1% during the 2nd quarter. Pier Capital LLC now owns 102,586 shares of the scientific and technical instruments company’s stock worth $6,586,000 after buying an additional 49,731 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of Cubic by 16.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 342,216 shares of the scientific and technical instruments company’s stock worth $21,970,000 after buying an additional 48,417 shares in the last quarter. 94.56% of the stock is owned by hedge funds and other institutional investors.
CUB stock opened at $55.13 on Friday. Cubic Co. has a 52 week low of $52.25 and a 52 week high of $77.35. The stock 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 debt-to-equity ratio of 0.29, a quick ratio of 1.78 and a current ratio of 2.04.
Cubic (NYSE:CUB) last released its earnings results on Thursday, November 15th. The scientific and technical instruments company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.27). Cubic had a return on equity of 2.79% and a net margin of 0.95%. The business had revenue of $379.71 million during the quarter, compared to the consensus estimate of $360.27 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, research analysts expect that Cubic Co. will post 2.4 EPS for the current year.
In other Cubic news, Director David F. Melcher bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were acquired at an average cost of $74.50 per share, for a total transaction of $74,500.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $149,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 7.90% of the stock is owned by insiders.
CUB has been the topic of a number of recent analyst reports. Drexel Hamilton restated a “buy” rating and set a $85.00 price target on shares of Cubic in a research report 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 report on Monday, December 3rd. Zacks Investment Research upgraded shares of Cubic from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, November 21st. ValuEngine downgraded shares of Cubic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, JPMorgan Chase & Co. upgraded shares of Cubic from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $75.00 to $73.00 in a research report on Friday, November 30th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $74.50.
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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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