PNC Financial Services Group Inc. grew its stake in Cubic Co. (NYSE:CUB) by 34.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,212 shares of the scientific and technical instruments company’s stock after buying an additional 1,086 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cubic were worth $227,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in CUB. State of New Jersey Common Pension Fund D lifted its position in shares of Cubic by 68.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,150,000 shares of the scientific and technical instruments company’s stock worth $61,801,000 after buying an additional 468,000 shares during the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Cubic in the third quarter worth about $17,899,000. River Road Asset Management LLC lifted its position in shares of Cubic by 54.5% in the fourth quarter. River Road Asset Management LLC now owns 370,350 shares of the scientific and technical instruments company’s stock worth $19,903,000 after buying an additional 130,565 shares during the last quarter. BlackRock Inc. lifted its position in shares of Cubic by 2.8% in the third quarter. BlackRock Inc. now owns 4,471,624 shares of the scientific and technical instruments company’s stock worth $326,652,000 after buying an additional 123,737 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Cubic in the third quarter worth about $6,010,000. 86.51% of the stock is owned by institutional investors.
NYSE CUB traded up $0.81 during trading hours on Wednesday, reaching $56.00. 27,330 shares of the company’s stock were exchanged, compared to its average volume of 265,659. The firm has a market cap of $1.74 billion, a PE ratio of 87.50 and a beta of 1.26. Cubic Co. has a one year low of $50.61 and a one year high of $77.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.06 and a quick ratio of 1.78.
CUB has been the topic of several analyst reports. Drexel Hamilton set a $85.00 price objective on Cubic and gave the company a “buy” rating in a research note on Tuesday, January 8th. Needham & Company LLC upgraded Cubic from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, November 16th. ValuEngine lowered Cubic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. Zacks Investment Research upgraded Cubic from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, November 21st. Finally, JPMorgan Chase & Co. upgraded Cubic from a “neutral” rating to an “overweight” rating and set a $59.03 price target on the stock in a research report on Sunday, December 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $74.21.
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Cubic Company Profile
Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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