Mn Services Vermogensbeheer B.V. Purchases 1,800 Shares of Cummins Inc. (NYSE:CMI)

Mn Services Vermogensbeheer B.V. grew its position in shares of Cummins Inc. (NYSE:CMI) by 3.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 56,403 shares of the company’s stock after acquiring an additional 1,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Cummins were worth $19,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMI. Mariner Investment Group LLC bought a new position in Cummins during the fourth quarter valued at $1,046,000. Alpha DNA Investment Management LLC bought a new position in shares of Cummins in the 3rd quarter valued at about $748,000. Franklin Resources Inc. grew its position in Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares in the last quarter. Bank of Montreal Can increased its stake in Cummins by 21.2% during the third quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after acquiring an additional 68,627 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in Cummins by 545.1% during the third quarter. Hancock Whitney Corp now owns 38,630 shares of the company’s stock worth $12,508,000 after acquiring an additional 32,642 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Truist Financial raised their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Evercore ISI upped their price target on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $386.67.

Cummins Stock Performance

Shares of NYSE:CMI opened at $364.35 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm’s 50 day simple moving average is $361.99 and its 200-day simple moving average is $343.63. The firm has a market cap of $50.09 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s payout ratio is 25.84%.

Cummins 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.