Denver Investment Advisors Lowers stake in Cubic Corporation (CUB)

Cubic Corporation (CUB) : Denver Investment Advisors reduced its stake in Cubic Corporation by 6.06% during the most recent quarter end. The investment management company now holds a total of 525,884 shares of Cubic Corporation which is valued at $23,996,087 after selling 33,915 shares in Cubic Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Cubic Corporation makes up approximately 1.03% of Denver Investment Advisors’s portfolio.

Other Hedge Funds, Including , Thompson Davis sold out all of its stake in CUB during the most recent quarter. The investment firm sold 2,250 shares of CUB which is valued $99,743.Barrow Hanley Mewhinney Strauss boosted its stake in CUB in the latest quarter, The investment management firm added 62,722 additional shares and now holds a total of 151,788 shares of Cubic Corporation which is valued at $6,926,086. Cubic Corporation makes up approx 0.01% of Barrow Hanley Mewhinney Strauss’s portfolio.River Road Asset Management reduced its stake in CUB by selling 34,537 shares or 4.87% in the most recent quarter. The Hedge Fund company now holds 674,779 shares of CUB which is valued at $29,710,519. Cubic Corporation makes up approx 0.61% of River Road Asset Management’s portfolio.Great West Life Assurance Co Can boosted its stake in CUB in the latest quarter, The investment management firm added 47,256 additional shares and now holds a total of 317,713 shares of Cubic Corporation which is valued at $13,544,105. Cubic Corporation makes up approx 0.04% of Great West Life Assurance Co Can’s portfolio.

Cubic Corporation opened for trading at $46.4 and hit $46.75 on the upside on Wednesday, eventually ending the session at $46.73, with a gain of 0.47% or 0.22 points. The heightened volatility saw the trading volume jump to 1,29,217 shares. Company has a market cap of $1,261 M.

On the company’s financial health, Cubic Corporation reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.28. The company had revenue of $375.20 million for the quarter, compared to analysts expectations of $384.78 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Investors should note that on Aug 1, 2016, Cubic Corporation announced a cash dividend of $0.1350. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on Cubic Corporation. Needham Upgraded Cubic Corporation on Aug 1, 2016 to ” Buy”, Price Target of the shares are set at $48.Canaccord Genuity Initiated Cubic Corporation on Jun 8, 2016 to “Buy”, Price Target of the shares are set at $48.

Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates in three segments: Cubic Transportation Systems (CTS) Mission Support Services (MSS) and Cubic Defense Systems (CDS). As of the September 30 2013 (fiscal 2013) the Company’s CTS business accounted for approximately 38%; MSS and CDS accounted for approximately 62%. CTS specialize in the design development production installation maintenance and operation of automated fare payment and revenue management infrastructure and technologies for transit operators.

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