Public Employees Retirement System of Ohio Acquires 1,611 Shares of Cubic Corporation (NYSE:CUB)

Public Employees Retirement System of Ohio increased its stake in Cubic Corporation (NYSE:CUB) by 12.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,636 shares of the scientific and technical instruments company’s stock after buying an additional 1,611 shares during the period. Public Employees Retirement System of Ohio owned about 0.05% of Cubic Corporation worth $773,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Cubic Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,750 shares of the scientific and technical instruments company’s stock worth $145,000 after buying an additional 60 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Cubic Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the scientific and technical instruments company’s stock worth $539,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System raised its stake in Cubic Corporation by 1.6% in the first quarter. Arizona State Retirement System now owns 12,988 shares of the scientific and technical instruments company’s stock worth $686,000 after buying an additional 200 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in Cubic Corporation by 11.3% in the first quarter. Meadow Creek Investment Management LLC now owns 2,006 shares of the scientific and technical instruments company’s stock worth $106,000 after buying an additional 204 shares in the last quarter. Finally, Suntrust Banks Inc. raised its stake in Cubic Corporation by 0.5% in the first quarter. Suntrust Banks Inc. now owns 58,741 shares of the scientific and technical instruments company’s stock worth $3,100,000 after buying an additional 318 shares in the last quarter. 88.93% of the stock is currently owned by institutional investors.

Cubic Corporation (NYSE CUB) opened at 42.35 on Friday. Cubic Corporation has a 1-year low of $39.50 and a 1-year high of $55.65. The stock’s market capitalization is $1.15 billion. The firm has a 50-day moving average of $45.76 and a 200-day moving average of $48.53.

Cubic Corporation (NYSE:CUB) last released its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.86. The company had revenue of $361.87 million for the quarter, compared to analyst estimates of $383.47 million. Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.74%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. Equities research analysts anticipate that Cubic Corporation will post ($0.58) EPS for the current year.

The firm also recently disclosed a semiannual dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.135 dividend. The ex-dividend date is Wednesday, August 30th. This represents a dividend yield of 0.62%. Cubic Corporation’s dividend payout ratio is currently -22.69%.

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A number of analysts have weighed in on the company. Canaccord Genuity lowered their target price on Cubic Corporation from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, August 4th. Zacks Investment Research lowered Cubic Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price objective (down previously from $52.00) on shares of Cubic Corporation in a report on Wednesday, August 9th. BidaskClub raised Cubic Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, ValuEngine downgraded Cubic Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Cubic Corporation currently has an average rating of “Hold” and an average price target of $53.40.

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).

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

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