Cummins Inc. (NYSE:CMI) Stake Purchased by Foster Victor Wealth Advisors LLC

Financial Advisors

Foster Victor Wealth Advisors LLC increased its stake in Cummins Inc. (NYSE:CMI – Free Report) by 59.4% in the first quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission. The institutional investor held 19,149 shares after purchasing an additional 7,137 shares during the period. Cummins shares in Foster Victor Wealth Advisors LLC were valued at $4,441,000 at the end of the most recent reporting period.

Other big investors have also recently added or removed stakes in the company. Capital Advisors Ltd. LLC increased its Cummins holdings by 39.2% in the fourth quarter. Capital Advisors Ltd. LLC purchased an additional 40 of his shares last quarter, and he now owns 142 shares of the company, valued at $25,000. Exchange Traded Concepts LLC increased its Cummins holding by 588.2% in the fourth quarter. Exchange Traded Concepts LLC purchased an additional 100 shares last quarter and now owns 117 shares of the company worth $28,000. Stonebridge Capital Advisors LLC increased its stake in Cummins by 64.0% in the third quarter. Stonebridge Capital Advisors LLC purchased an additional 64 shares last quarter and now owns 164 shares of the company, valued at $33,000. Hollencrest Capital Management acquired new shares of Cummins stock valued at approximately $33,000 during the fourth quarter. Finally, Osterweiss Capital Management acquired new shares of Cummins stock valued at approximately $33,000 during the fourth quarter. Institutional investors and hedge funds currently hold 82.72% of the shares.

Cummins stock performance

Shares of CMI shares opened Friday at $245.16. The company has a debt to equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.29. The company’s 50-day simple moving average is $225.02 and its 200-day simple moving average is $235.81. Cummins shares hit a one-year low of $187.92 and a one-year high of $261.91. The stock has a market cap of $34.7 billion, a price/earnings multiple of 13.82, a PEG ratio of 1.34, and a beta of 1.01.

Cummins (NYSE:CMI – Free Report) last reported earnings on Tuesday, May 2nd. The company reported earnings per share (EPS) of $5.55 for the quarter, beating analyst consensus expectations of $4.70 by $0.85. Cummins’ net margin was 8.37% and return on equity was 25.94%. The company had revenue of $8.45 billion in the quarter, compared with analysts’ expectations of $8.13 billion. The company posted earnings of $4.04 per share in the same period last year. Cummins revenue increased 32.4% year over year. Equity analysts expect Cummins to post earnings per share of $19.80 this fiscal year.

Cummins dividend announcement

The company also recently announced its quarterly dividend, which was paid on Thursday, June 1. His $1.57 dividend was issued to record shareholders on Friday, May 19. The ex-dividend date was Thursday, May 18. This equates to his $6.28 dividend and his 2.56% yield on an annualized basis. Cummins’ dividend payout ratio is currently 35.40%.

Analyst Rating Change

Several brokerage firms have recently been involved in CMI. Deutsche Bank Aktiengesellschaft lowered its price target on Cummins to $227.00 from $231.00 in a research note on Wednesday, April 12, setting the company’s rating to ‘hold’. 888 reiterated its Affirmative rating on Cummins stock in a research note on Wednesday, May 31. On Wednesday, May 3, VNET Group reiterated its Affirmative rating on Cummins stock in a research note. Finally, began reporting on Cummins in a research note on Thursday, May 18th. They set a “buy” rating for the company. Five investment analysts gave the company a “hold” rating, while three gave it a “buy” rating. Based on MarketBeat data, the company currently has an average valuation of Hold and an average target price of $254.25.

cummins profile

(free report)

Cummins Inc designs, manufactures, markets and services diesel and natural gas engines, electric and hybrid powertrains and related components worldwide. The company operates through his five segments: Engines, Power Distribution, Components, Power Systems and New Power. Under Cummins and other customer brands, the company produces diesel and natural gas powered engines for heavy and medium trucks, buses, recreational vehicles, light vehicles, construction, mining, marine, rail, oil and gas, defense and other sectors. It offers. and agricultural markets. We also offer new parts and services, remanufactured parts and engines.

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Cummins Quarterly Institutional Ownership Ratio (NYSE:CMI)

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