QV Investors Inc. Acquires 90 Shares of Cummins Inc. $CMI

QV Investors Inc. grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,305 shares of the company’s stock after acquiring an additional 90 shares during the quarter. QV Investors Inc.’s holdings in Cummins were worth $4,685,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CMI. Brighton Jones LLC boosted its position in shares of Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Cummins by 22.3% during the 1st quarter. GAMMA Investing LLC now owns 3,801 shares of the company’s stock valued at $1,191,000 after buying an additional 692 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Cummins by 0.6% during the 1st quarter. Perigon Wealth Management LLC now owns 6,588 shares of the company’s stock valued at $2,065,000 after buying an additional 42 shares in the last quarter. PDS Planning Inc lifted its position in Cummins by 10.0% in the 1st quarter. PDS Planning Inc now owns 856 shares of the company’s stock worth $268,000 after buying an additional 78 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in Cummins in the 1st quarter worth approximately $219,000. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $421.79 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.64. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $440.51. The stock has a 50 day moving average price of $412.77 and a two-hundred day moving average price of $357.84. The company has a market capitalization of $58.12 billion, a P/E ratio of 19.83, a PEG ratio of 1.95 and a beta of 1.04.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.21 by $1.22. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The firm had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the company posted $5.26 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. Analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, November 21st will be given a $2.00 dividend. The ex-dividend date is Friday, November 21st. This represents a $8.00 annualized dividend and a yield of 1.9%. Cummins’s payout ratio is presently 37.61%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Citigroup boosted their target price on Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Melius Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research report on Wednesday, September 3rd. Truist Financial boosted their target price on Cummins from $380.00 to $434.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Robert W. Baird boosted their target price on Cummins from $315.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company upgraded Cummins to an “overweight” rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and an average target price of $410.50.

Insider Activity at Cummins

In related news, VP Robert Enright sold 1,860 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $402.26, for a total transaction of $748,203.60. Following the completion of the transaction, the vice president owned 955 shares in the company, valued at $384,158.30. This represents a 66.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen H. Quintos sold 1,307 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $405.33, for a total value of $529,766.31. Following the transaction, the director owned 5,227 shares of the company’s stock, valued at approximately $2,118,659.91. This represents a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,119 shares of company stock valued at $17,674,285 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.