State of New Jersey Common Pension Fund D raised its holdings in shares of Cubic Co. (NYSE:CUB) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,200,000 shares of the scientific and technical instruments company’s stock after purchasing an additional 50,000 shares during the period. State of New Jersey Common Pension Fund D owned about 3.85% of Cubic worth $67,488,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Cubic by 14.0% during the fourth quarter. BlackRock Inc. now owns 5,097,799 shares of the scientific and technical instruments company’s stock valued at $273,956,000 after acquiring an additional 626,175 shares during the period. FMR LLC boosted its holdings in shares of Cubic by 25,700.1% during the fourth quarter. FMR LLC now owns 234,007 shares of the scientific and technical instruments company’s stock valued at $12,576,000 after acquiring an additional 233,100 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Cubic by 81.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 432,769 shares of the scientific and technical instruments company’s stock valued at $24,339,000 after acquiring an additional 194,917 shares during the period. AMI Asset Management Corp acquired a new position in shares of Cubic during the first quarter valued at $10,361,000. Finally, Norges Bank acquired a new position in shares of Cubic during the fourth quarter valued at $9,587,000. Hedge funds and other institutional investors own 95.55% of the company’s stock.
In other Cubic news, Director John H. Warner, Jr. purchased 5,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $60.25 per share, with a total value of $301,250.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edwin A. Guiles purchased 1,000 shares of the business’s stock in a transaction on Friday, May 17th. The stock was acquired at an average cost of $62.28 per share, with a total value of $62,280.00. The disclosure for this purchase can be found here. Insiders purchased 9,655 shares of company stock valued at $580,192 in the last ninety days. Corporate insiders own 0.51% of the company’s stock.
CUB stock traded down $1.32 during trading on Wednesday, hitting $56.38. The company had a trading volume of 180,000 shares, compared to its average volume of 261,000. The company has a market capitalization of $1.83 billion, a P/E ratio of 88.09 and a beta of 1.20. Cubic Co. has a fifty-two week low of $50.61 and a fifty-two week high of $77.35. The company has a quick ratio of 1.12, a current ratio of 1.35 and a debt-to-equity ratio of 0.23.
Cubic (NYSE:CUB) last posted its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.44. The business had revenue of $337.30 million during the quarter, compared to the consensus estimate of $326.88 million. Cubic had a net margin of 0.62% and a return on equity of 3.44%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) earnings per share. Equities analysts anticipate that Cubic Co. will post 3.34 EPS for the current year.
Several brokerages have recently issued reports on CUB. ValuEngine raised shares of Cubic from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. 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 report on Monday, May 13th. Drexel Hamilton reissued a “buy” rating and set a $85.00 price target on shares of Cubic in a report on Thursday, February 7th. Zacks Investment Research raised shares of Cubic from a “sell” rating to a “strong-buy” rating and set a $68.00 price target for the company in a report on Wednesday, May 8th. Finally, Citigroup began coverage on shares of Cubic in a report on Friday, February 15th. They set a “buy” rating and a $75.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $73.72.
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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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