Morgan Stanley decreased its stake in shares of Cubic Corporation (NYSE:CUB) by 58.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,415 shares of the scientific and technical instruments company’s stock after selling 47,612 shares during the period. Morgan Stanley owned about 0.13% of Cubic Corporation worth $1,817,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Swiss National Bank raised its stake in shares of Cubic Corporation by 1.9% in the first quarter. Swiss National Bank now owns 37,900 shares of the scientific and technical instruments company’s stock valued at $2,001,000 after buying an additional 700 shares in the last quarter. Comerica Bank raised its stake in shares of Cubic Corporation by 3.8% in the first quarter. Comerica Bank now owns 27,639 shares of the scientific and technical instruments company’s stock valued at $1,469,000 after buying an additional 1,000 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Cubic Corporation by 12.6% in the first quarter. BNP Paribas Arbitrage SA now owns 7,640 shares of the scientific and technical instruments company’s stock worth $403,000 after buying an additional 857 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Cubic Corporation by 10.5% in the first quarter. Bank of New York Mellon Corp now owns 337,169 shares of the scientific and technical instruments company’s stock worth $17,802,000 after buying an additional 32,056 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Shares of Cubic Corporation (NYSE:CUB) traded up 0.93% on Thursday, reaching $43.20. The company’s stock had a trading volume of 66,789 shares. The company’s 50 day moving average is $45.17 and its 200-day moving average is $48.33. Cubic Corporation has a 1-year low of $39.50 and a 1-year high of $55.65. The firm’s market cap is $1.17 billion.

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

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

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A number of brokerages recently weighed in on CUB. Canaccord Genuity reissued a “buy” rating and issued a $50.00 price objective on shares of Cubic Corporation in a research note on Thursday, August 10th. J P Morgan Chase & Co raised Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research note on Thursday, August 10th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective (down from $52.00) on shares of Cubic Corporation in a research note on Wednesday, August 9th. Zacks Investment Research downgraded Cubic Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. Finally, ValuEngine downgraded Cubic Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus 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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