Artisan Partners Limited Partnership reduced its stake in Cubic Corporation (NYSE:CUB) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,365 shares of the scientific and technical instruments company’s stock after selling 6,900 shares during the quarter. Artisan Partners Limited Partnership owned about 0.70% of Cubic Corporation worth $8,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Thrivent Financial For Lutherans raised its stake in Cubic Corporation by 6.9% in the second quarter. Thrivent Financial For Lutherans now owns 15,100 shares of the scientific and technical instruments company’s stock valued at $699,000 after purchasing an additional 980 shares in the last quarter. Formidable Asset Management LLC raised its stake in Cubic Corporation by 2.6% in the second quarter. Formidable Asset Management LLC now owns 18,632 shares of the scientific and technical instruments company’s stock valued at $863,000 after purchasing an additional 469 shares in the last quarter. BlackRock Inc. raised its stake in Cubic Corporation by 1.3% in the second quarter. BlackRock Inc. now owns 3,829,369 shares of the scientific and technical instruments company’s stock valued at $177,300,000 after purchasing an additional 48,214 shares in the last quarter. Teachers Advisors LLC raised its stake in Cubic Corporation by 7.1% in the second quarter. Teachers Advisors LLC now owns 45,602 shares of the scientific and technical instruments company’s stock valued at $2,111,000 after purchasing an additional 3,006 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in Cubic Corporation in the second quarter valued at approximately $255,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities research analysts recently weighed in on CUB shares. Canaccord Genuity lowered their target price on shares of Cubic Corporation from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Zacks Investment Research downgraded shares of Cubic Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. J P Morgan Chase & Co raised shares of Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 target price on the stock in a research note on Thursday, August 10th. BidaskClub raised shares of Cubic Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price (down from $52.00) on shares of Cubic Corporation in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $53.40.

Cubic Corporation (NYSE:CUB) last issued its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.86). The firm had revenue of $361.87 million for the quarter, compared to analysts’ expectations of $383.47 million. Cubic Corporation had a negative return on equity of 4.74% and a negative net margin of 2.20%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share.

The company also recently disclosed a semiannual dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.135 per share. The ex-dividend date was Wednesday, August 30th. This represents a dividend yield of 0.62%. Cubic Corporation’s dividend payout ratio (DPR) is -22.69%.

About Cubic Corporation

Cubic Corporation (Cubic) designs, integrates and operates systems, products and services that provide situational awareness for its customers in the transportation and defense industries. The Company operates in three business segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense (CGD) and Cubic Global Defense Services (CGD Services).

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Institutional Ownership by Quarter for Cubic Corporation (NYSE:CUB)

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