PineBridge Investments L.P. Raises Position in Cubic Corp. (CUB)
PineBridge Investments L.P. raised its position in shares of Cubic Corp. (NYSE:CUB) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,771 shares of the company’s stock after buying an additional 101 shares during the period. PineBridge Investments L.P.’s holdings in Cubic Corp. were worth $111,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Teacher Retirement System of Texas raised its position in Cubic Corp. by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 3,206 shares of the company’s stock worth $129,000 after buying an additional 399 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Cubic Corp. during the second quarter worth $130,000. Legal & General Group Plc raised its position in shares of 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 in the last quarter. American Financial Group Inc. bought a new position in shares of Cubic Corp. during the second quarter worth $210,000. Finally, OLD National Bancorp IN bought a new position in shares of Cubic Corp. during the second quarter worth $235,000. 88.16% of the stock is owned by institutional investors and hedge funds.
Cubic Corp. (NYSE:CUB) opened at 46.93 on Thursday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 43.53 and a beta of 1.12. The firm’s 50-day moving average is $46.92 and its 200 day moving average is $42.44. Cubic Corp. has a 52-week low of $30.11 and a 52-week high of $49.79.
Cubic Corp. (NYSE:CUB) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.12. Cubic Corp. had a return on equity of 5.60% and a net margin of 1.97%. The business had revenue of $375.20 million for the quarter, compared to analysts’ expectations of $387.41 million. During the same period in the prior year, the business posted $0.33 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Cubic Corp. will post $0.92 EPS for the current fiscal year.
The company also recently announced 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. This represents a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, August 29th. Cubic Corp.’s dividend payout ratio (DPR) is 24.77%.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group AG restated a “buy” rating on shares of Cubic Corp. in a research report on Saturday, July 9th. Canaccord Genuity restated a “buy” rating and set a $54.00 target price on shares of Cubic Corp. in a research report on Thursday. Zacks Investment Research upgraded shares of Cubic Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Cubic Corp. in a research report on Wednesday, June 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.60.
Cubic Corp. Company Profile
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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