Cardinal Point Capital Management ULC Grows Position in Cummins Inc. $CMI

Cardinal Point Capital Management ULC boosted its position in Cummins Inc. (NYSE:CMI) by 141.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,412 shares of the company’s stock after acquiring an additional 1,412 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Cummins were worth $1,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Cummins by 2.8% during the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock worth $21,055,000 after purchasing an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC acquired a new position in shares of Cummins during the second quarter worth $225,000. Finally, Osterweis Capital Management Inc. purchased a new position in Cummins in the second quarter valued at $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins News Roundup

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Cummins’ latest quarterly results beat expectations, with EPS of $6.15 topping estimates and revenue of $8.40 billion slightly ahead of forecasts, reinforcing confidence in business momentum.
• Positive Sentiment: Analysts have turned more bullish, including Citigroup raising its price target to $770, Barclays lifting its target to $760, Evercore reiterating an outperform rating with an $845 target, and Zacks upgrading the stock to strong-buy.
• Positive Sentiment: The company declared a quarterly dividend of $2.00 per share, signaling continued capital returns to shareholders and supporting the stock’s income appeal.
• Neutral Sentiment: Recent coverage highlighted Cummins’ relative performance versus other auto, tires and truck names, but this is more of a comparison piece than a fresh catalyst. Article Title
• Negative Sentiment: Multiple insiders sold shares over the past few days, including VP Jennifer Mary Bush, VP Nathan Stoner, and insider Brett Michael Merritt, which may slightly temper enthusiasm despite the company’s strong operating results.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CMI shares. Wolfe Research downgraded Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target for the company. in a report on Monday, January 26th. Argus set a $696.00 price objective on Cummins in a report on Tuesday, February 10th. Wall Street Zen lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Truist Financial set a $815.00 target price on Cummins in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the company a “market perform” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $677.87.

Cummins Stock Performance

NYSE CMI opened at $710.88 on Thursday. The company has a fifty day moving average of $595.91 and a two-hundred day moving average of $551.55. The company has a market capitalization of $98.09 billion, a PE ratio of 36.89, a P/E/G ratio of 1.78 and a beta of 1.27. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the firm earned $5.96 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Cummins Inc. will post 28.39 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.1%. Cummins’s payout ratio is 41.52%.

Insider Activity at Cummins

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the sale, the vice president owned 11,986 shares in the company, valued at approximately $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nicole Lamb-Hale sold 2,408 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the transaction, the chief accounting officer owned 14,084 shares of the company’s stock, valued at approximately $9,652,328.56. The trade was a 14.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,667 shares of company stock valued at $13,946,861 over the last 90 days. 0.30% of the stock is owned by insiders.

About Cummins

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.