BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in Cummins Inc. $CMI

BI Asset Management Fondsmaeglerselskab A S lifted its position in Cummins Inc. (NYSE:CMI) by 576.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,593 shares of the company’s stock after purchasing an additional 72,938 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cummins were worth $43,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thompson Investment Management Inc. purchased a new stake in Cummins during the 4th quarter valued at about $26,000. Activest Wealth Management boosted its holdings in Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in Cummins during the 4th quarter valued at about $27,000. Ares Financial Consulting LLC purchased a new stake in Cummins during the 4th quarter valued at about $29,000. Finally, Osterweis Capital Management Inc. purchased a new stake in Cummins during the 2nd quarter valued at about $31,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Down 3.9%

CMI stock opened at $651.38 on Friday. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The firm has a market cap of $89.88 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23. The business has a 50 day moving average of $635.72 and a 200 day moving average of $576.59.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $5.96 EPS. On average, research analysts forecast that Cummins Inc. will post 29.29 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Insiders Place Their Bets

In other Cummins news, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction on Monday, May 11th. The stock was sold at an average price of $700.19, for a total value of $456,523.88. Following the completion of the sale, the executive vice president owned 11,679 shares of the company’s stock, valued at approximately $8,177,519.01. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction on Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the sale, the insider directly owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. The trade was a 6.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CMI has been the subject of several analyst reports. Wells Fargo & Company increased their target price on Cummins from $693.00 to $794.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings cut Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Finally, Evercore reiterated an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $705.79.

More Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Zacks Research lifted its earnings estimates for Cummins across several upcoming quarters and full years, including FY2027 and FY2028, reinforcing a more bullish profit outlook.
• Positive Sentiment: The analyst firm maintained a Strong-Buy rating, suggesting confidence that Cummins can continue outperforming expectations.
• Positive Sentiment: Recent commentary on Cummins’ raised revenue guidance adds to the case that business trends remain favorable. Why Is Cummins Raising Revenue Guidance Amid NYSE Composite Focus?
• Neutral Sentiment: A separate note questioned whether the stock can rebound after its last earnings report, but it did not introduce new fundamental concerns. Cummins (CMI) Down 4.7% Since Last Earnings Report: Can It Rebound?

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.