BlackRock Inc. grew its holdings in shares of Cubic Co. (NYSE:CUB) by 14.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,097,799 shares of the scientific and technical instruments company’s stock after acquiring an additional 626,175 shares during the quarter. BlackRock Inc. owned about 0.16% of Cubic worth $273,956,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CUB. Penserra Capital Management LLC purchased a new position in shares of Cubic during the fourth quarter valued at approximately $29,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Cubic during the fourth quarter valued at approximately $76,000. Bank of Montreal Can increased its stake in shares of Cubic by 10.1% during the fourth quarter. Bank of Montreal Can now owns 1,973 shares of the scientific and technical instruments company’s stock valued at $106,000 after buying an additional 181 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Cubic by 211.3% during the third quarter. Tower Research Capital LLC TRC now owns 1,743 shares of the scientific and technical instruments company’s stock valued at $127,000 after buying an additional 1,183 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Cubic during the third quarter valued at approximately $205,000. 93.73% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Cubic from a “buy” rating to a “strong sell” rating in a research note on Monday, December 17th. ValuEngine cut Cubic from a “buy” rating to a “hold” rating in a research note on Monday. Needham & Company LLC reduced their target price on Cubic from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Monday, December 3rd. Drexel Hamilton set a $85.00 price target on Cubic and gave the stock a “buy” rating in a research note on Thursday, November 15th. Finally, JPMorgan Chase & Co. raised Cubic from a “neutral” rating to an “overweight” rating and set a $59.03 price target on the stock in a research note on Sunday, December 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Cubic currently has a consensus rating of “Buy” and an average target price of $74.34.
Cubic (NYSE:CUB) last issued its quarterly earnings results on Wednesday, February 6th. The scientific and technical instruments company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.10). The firm had revenue of $305.30 million during the quarter, compared to analysts’ expectations of $288.55 million. Cubic had a return on equity of 2.30% and a net margin of 1.23%. Cubic’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) earnings per share. As a group, equities analysts anticipate that Cubic Co. will post 1.55 earnings per share for the current fiscal year.
The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, March 1st were paid a $0.135 dividend. The ex-dividend date was Thursday, February 28th. This represents a yield of 0.44%. Cubic’s payout ratio is 42.19%.
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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 three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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