US Bancorp DE increased its stake in Cubic Corporation (NYSE:CUB) by 20.4% during the second quarter, Holdings Channel reports. The institutional investor owned 11,955 shares of the scientific and technical instruments company’s stock after buying an additional 2,026 shares during the period. US Bancorp DE’s holdings in Cubic Corporation were worth $554,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Cubic Corporation by 45,983.5% in the first quarter. BlackRock Inc. now owns 3,781,155 shares of the scientific and technical instruments company’s stock valued at $199,644,000 after buying an additional 3,772,950 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cubic Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,155,681 shares of the scientific and technical instruments company’s stock valued at $113,820,000 after buying an additional 92,168 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Cubic Corporation by 1.1% in the first quarter. Wellington Management Group LLP now owns 2,143,979 shares of the scientific and technical instruments company’s stock valued at $113,202,000 after buying an additional 23,380 shares in the last quarter. State Street Corp raised its position in shares of Cubic Corporation by 5.9% in the first quarter. State Street Corp now owns 739,198 shares of the scientific and technical instruments company’s stock valued at $39,032,000 after buying an additional 41,484 shares in the last quarter. Finally, Bank of New York Mellon Corp raised 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 valued at $17,802,000 after buying an additional 32,056 shares in the last quarter. 88.93% of the stock is owned by institutional investors and hedge funds.

Shares of Cubic Corporation (NYSE:CUB) traded down 0.46% during mid-day trading on Wednesday, reaching $43.20. The company’s stock had a trading volume of 22,689 shares. The company’s 50-day moving average is $46.01 and its 200 day moving average is $48.64. The firm’s market cap is $1.17 billion. Cubic Corporation has a 12 month low of $39.50 and a 12 month high of $55.65.

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

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

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CUB has been the subject of a number of recent analyst reports. BidaskClub downgraded Cubic Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target (down from $55.00) on shares of Cubic Corporation in a report on Tuesday, May 9th. Canaccord Genuity reiterated a “buy” rating and set a $50.00 price target on shares of Cubic Corporation in a report on Thursday, August 10th. J P Morgan Chase & Co upgraded Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Thursday, August 10th. Finally, ValuEngine downgraded Cubic Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $53.40.

Cubic Corporation Company Profile

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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