Trexquant Investment 13F: New $34M Stake in Cummins (CMI)
Trexquant Investment initiated a fresh position in Cummins Inc., picking up 46,998 shares during the period.
Reviewed by automated data checks against the source filing. How we make and check alerts
Trexquant Investment opened a new position of 46,998 shares in Cummins Inc. ($CMI), according to a 13F filing with the SEC dated May 15, 2026. It reported 46,998 shares worth $33.52 million at the end of the quarter.
Since the filing, $CMI is down 7.9% after 1 week, down 2.1% after 1 month and down 23.2% to date (from the $691.77 close on May 15, 2026).
Find the original: Trexquant Investment 13F filings on SEC EDGAR
CMI
Cummins Inc.
Key Points
- Trexquant Investment opened a brand-new stake in Cummins Inc., purchasing 46,998 shares valued at approximately $33.5 million.
- Cummins shares trade near the upper end of their 52-week range, backed by a price-to-earnings ratio of 27.3.
- Wall Street firms adjusted price targets through the summer and fall, with Citigroup, Wells Fargo, and Truist maintaining their ratings.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Cummins Inc. alert may contain errors. Disclosures
Trexquant Takes New Position in Cummins Inc.
Trexquant Investment opened a new position in Cummins Inc. CMI, acquiring 46,998 shares of the engine maker. The new stake was revealed in a Form 13F filing with the Securities and Exchange Commission for the period ending May 15, 2026. Based on the fund's reported cost basis, the newly acquired shares carried an estimated value of $33.5 million.
Cummins Stock Performance and Valuation
Shares of Cummins change hands near $713.21, sitting close to their 52-week peak of $737.76. The heavy-duty engine manufacturer carries a price-to-earnings ratio of 27.3 based on trailing results, alongside a forward price-to-earnings ratio of 15.5. The company's market capitalization stands near $73.6 billion.
Recent Earnings and Dividend Profile
Cummins reported revenue of $34.7 billion with a revenue growth rate of 9.4%. The company posted earnings of $19.59 per share, accompanied by a net margin of 7.8% and a return on equity of 21.1%. Shareholders receive an annual dividend rate of $8.80 per share, which works out to a dividend yield of 1.7%. That payout is supported by a dividend payout ratio of 40.9%. The next quarterly earnings report is scheduled for November 5, 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.
Wall Street Analyst Updates
Major financial institutions have updated their outlooks on the industrial equipment maker in recent months. On July 17, 2026, Morgan Stanley maintained its overweight rating with a target of $761.00. UBS kept a buy rating on August 5, 2026, setting a target of $835.00, and later maintained a buy rating on September 30, 2026, adjusting its target to $741.00. Evercore ISI Group maintained an outperform rating on August 11, 2026, with a target of $782.00. Truist Securities maintained a buy rating on October 5, 2026, moving its target from $894.00 to $779.00. Wells Fargo maintained an overweight rating on October 8, 2026, revising its target from $874.00 to $760.00. Citigroup maintained a buy rating on October 12, 2026, lowering its price target from $790.00 to $630.00.
About Cummins Inc.
Headquartered in Columbus, Indiana, Cummins designs and builds diesel and natural gas engines, electrical power systems, and related components for commercial vehicles and industrial customers worldwide. The company operates through several divisions spanning engine manufacturing, distribution, components, power systems, and alternative zero-emission technologies.
Looking Ahead at Institutional Holdings
Institutional portfolios shift continually, and regulatory filings reflect past snapshots rather than real-time trading activity. Observers tracking engine manufacturers can review subsequent SEC filings to see how institutional managers adjust their exposure through the remainder of the year.
Related Filing Alerts
Source: Trexquant Investment's 13F filing on $CMI (May 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Trexquant Investment 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts