5,043 Shares in Cubic Co. (NYSE:CUB) Acquired by Pitcairn Co.

Pitcairn Co. acquired a new position in shares of Cubic Co. (NYSE:CUB) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,043 shares of the scientific and technical instruments company’s stock, valued at approximately $242,000.

Several other institutional investors also recently modified their holdings of CUB. Victory Capital Management Inc. raised its holdings in Cubic by 5.8% in the 4th quarter. Victory Capital Management Inc. now owns 4,333 shares of the scientific and technical instruments company’s stock valued at $275,000 after acquiring an additional 237 shares during the last quarter. UBS Group AG boosted its position in Cubic by 2.8% during the 4th quarter. UBS Group AG now owns 12,693 shares of the scientific and technical instruments company’s stock worth $807,000 after purchasing an additional 343 shares during the period. Goldman Sachs Group Inc. boosted its position in Cubic by 33.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,189 shares of the scientific and technical instruments company’s stock worth $5,098,000 after purchasing an additional 20,304 shares during the period. UBS Asset Management Americas Inc. boosted its position in Cubic by 2.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 29,558 shares of the scientific and technical instruments company’s stock worth $1,879,000 after purchasing an additional 624 shares during the period. Finally, Bank of America Corp DE boosted its position in Cubic by 28.3% during the 4th quarter. Bank of America Corp DE now owns 79,083 shares of the scientific and technical instruments company’s stock worth $5,027,000 after purchasing an additional 17,437 shares during the period.

A number of analysts recently weighed in on CUB shares. JPMorgan Chase & Co. upped their price target on shares of Cubic from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Canaccord Genuity decreased their price target on shares of Cubic from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. TheStreet raised shares of Cubic from a “d” rating to a “c-” rating in a research report on Monday, June 29th. Raymond James decreased their price target on shares of Cubic from $82.00 to $62.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 15th. Finally, SunTrust Banks decreased their price target on shares of Cubic from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Cubic currently has an average rating of “Buy” and a consensus target price of $51.25.

NYSE:CUB opened at $42.00 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.20 and a quick ratio of 0.99. The firm has a 50-day moving average of $45.38 and a two-hundred day moving average of $48.03. The stock has a market cap of $1.31 billion, a P/E ratio of 25.77 and a beta of 1.14. Cubic Co. has a 1-year low of $30.86 and a 1-year high of $75.20.

Cubic (NYSE:CUB) last posted its quarterly earnings data on Wednesday, May 6th. The scientific and technical instruments company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The firm had revenue of $321.50 million during the quarter, compared to analysts’ expectations of $342.23 million. Cubic had a net margin of 0.40% and a return on equity of 5.64%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.26) earnings per share. As a group, equities analysts expect that Cubic Co. will post 2.7 earnings per share for the current year.

In related news, CEO Bradley H. Feldmann bought 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $36.54 per share, for a total transaction of $36,540.00. Following the purchase, the chief executive officer now owns 58,961 shares in the company, valued at approximately $2,154,434.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jeffrey B. Lowinger bought 1,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $32.59 per share, for a total transaction of $48,885.00. Following the purchase, the senior vice president now owns 4,667 shares in the company, valued at approximately $152,097.53. The disclosure for this purchase can be found here. Corporate insiders own 0.58% of the company’s stock.

Cubic Company Profile

Cubic Corporation designs, integrates, and operates systems, products, and services for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers worldwide. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Mission Solutions (CMS), and Cubic Global Defense Systems (CGD).

Further Reading: What is a stock split?

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Institutional Ownership by Quarter for Cubic (NYSE:CUB)

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