Caisse de Depot Et Placement Du Quebec Adds $32M in Cummins Inc. ($CMI)
The fund added 44,861 shares to its Cummins Inc. holdings, growing its stake by 18.5%.
Key Points
- Caisse de Depot Et Placement Du Quebec increased its stake in Cummins Inc. by 18.5%, adding 44,861 shares.
- Cummins Inc. has a market cap of $99 billion, with shares trading near $717.78 and a forward P/E of 21.17.
- Wells Fargo and UBS recently maintained 'buy' ratings on Cummins, with price targets of $874 and $850, respectively.
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Caisse de Depot Et Placement Du Quebec has significantly increased its holdings in Cummins Inc. (NYSE:CMI), according to the latest Form 13F filing with the SEC. The fund added 44,861 shares, boosting its position by 18.5% to a total of 286,769 shares, valued at approximately $205.8 million as of the reporting period.
What Changed in Caisse de Depot Et Placement Du Quebec's Cummins Position
The investment fund's recent move reflects a notable increase in its stake in Cummins Inc. Prior to this change, the fund held 241,908 shares. The addition of 44,861 shares marks an 18.5% increase, bringing the total to 286,769 shares, with a valuation of about $205.8 million.
Other Institutional Activity in Cummins Inc.
Among Cummins' other institutional investors, BlackRock, Inc. added 33,188 shares, ending with 11,835,524 shares worth around $6.37 billion. Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both maintained their positions, holding 8,975,971 shares valued at $4.83 billion and 7,498,010 shares valued at $4.03 billion, respectively. State Street Corp increased its holdings by 297,838 shares to a total of 6,807,690 shares, valued at $3.66 billion. Meanwhile, FMR LLC reduced its position by 220,933 shares, bringing its total to 5,428,312 shares, worth about $2.92 billion.
Cummins Inc. Stock Up 26.4%
Shares of Cummins Inc. (NYSE:CMI) are trading near $717.78. The company boasts a market cap of $99 billion and has a P/E ratio of 37.29, with a forward P/E of 21.17. Cummins' stock has experienced a 52-week low of $307.90 and a high of $733.48. The 50-day moving average is $659.77, while the 200-day moving average stands at $541.36. The company's current ratio is 1.709, with a quick ratio of 0.955 and a debt-to-equity ratio of 61.621.
$CMI stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
In its most recent quarter, Cummins reported revenue of $33.89 billion, reflecting a growth rate of 2.7%. The company's earnings per share (EPS) stood at $19.25, with a net margin of 7.89% and a return on equity (ROE) of 21.99%. Cummins is expected to release its next earnings report on August 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 9.0%. Revenue met estimates.
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Profit surprise
EBITDA missed by 39 percent. Operating income missed by 16 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
7 target raises.
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Earnings quality
Operating margin down 2.6 points. Positive free cash flow.
Earnings Call Summary
The quarter delivered $8.4 billion in revenue, up 3 percent year over year, with power generation strong but North America trucks still weak at the start. Management highlighted a major hybrid mining truck deployment in Chile and progress on new 2027 engines. They sold the low-pressure fuel cell business to Alstom, cutting future losses in the Accelera division. The strong finish to the quarter and improving orders lead management to expect the year to be much better, with better momentum in trucks and accelerating data center buildouts globally.
Guidance Cummins raised its full year revenue forecast to grow 8 to 11 percent, up from 3 to 8 percent prior. The company expects power generation revenue to jump 15 to 25 percent, driven by strong data center demand globally. North America truck production is forecast at 230,000 to 250,000 units for heavy-duty and 125,000 to 135,000 units for medium-duty, higher than previous expectations.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Cummins Inc.
Recent insider transactions at Cummins Inc. include several sales and purchases. On May 19, 2026, Merritt Brett Michael, V.P & President of the Engine Business, sold 218 shares. On May 14, 2026, Donald Jackson, VP of Treasury & Tax, sold 730 shares at an average price of $710.92. On May 12, 2026, insiders Matthew Tsien and Karen Quintos each purchased 306 shares.
Analysts Set New Price Targets
Analysts have been active in updating their views on Cummins Inc. On June 17, 2026, Wells Fargo maintained its 'buy' rating with a price target of $874. UBS upgraded the stock to a 'buy' on June 8, 2026, setting a target of $850. Argus Research also maintained a 'buy' rating on June 1, 2026, with a target of $770. Overall, the consensus among 19 analysts is a 'buy' recommendation, with a mean price target of $744.33.
About Cummins Inc.
Cummins Inc., headquartered in Columbus, Indiana, is a global leader in power solutions. The company operates through segments including Engine, Distribution, Components, Power Systems, and Accelera. It offers a range of products from diesel and natural gas engines to electrified power systems, serving original equipment manufacturers and distributors worldwide. Led by CEO Jennifer W. Rumsey, Cummins employs approximately 67,400 people.
Bottom Line
Caisse de Depot Et Placement Du Quebec's increased stake in Cummins Inc. highlights its confidence in the company's prospects. Cummins' diverse product offerings and strong market position make it a significant player in the industrial machinery sector. Investors often track such filings to gauge institutional sentiment, though it's important to remember that 13F filings are backward-looking and may not reflect current holdings.
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