Cardinal Infrastructure Group Inc. $CDNL Stock Holdings Lifted by Wasatch Advisors LP

Wasatch Advisors LP increased its position in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) by 1.3% during the first quarter, Holdings Channel reports. The fund owned 693,050 shares of the company’s stock after acquiring an additional 9,064 shares during the quarter. Wasatch Advisors LP’s holdings in Cardinal Infrastructure Group were worth $27,483,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Barclays PLC purchased a new position in Cardinal Infrastructure Group during the 4th quarter worth approximately $152,000. XTX Topco Ltd purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $242,000. Zuckerman Investment Group LLC purchased a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at $242,000. Oxford Asset Management LLP acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $355,000. Finally, HRT Financial LP acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter worth $586,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Oppenheimer raised their price objective on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Zacks Research lowered Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cardinal Infrastructure Group presently has a consensus rating of “Hold” and an average price target of $59.33.

Insider Buying and Selling

In other news, COO Benjamin Wood bought 20,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were purchased at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the purchase, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at $1,026,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 61.70% of the stock is owned by company insiders.

Cardinal Infrastructure Group Price Performance

Shares of NASDAQ:CDNL opened at $92.00 on Friday. The firm’s fifty day moving average is $59.19. Cardinal Infrastructure Group Inc. has a 12-month low of $21.98 and a 12-month high of $93.72.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The company had revenue of $418.92 million during the quarter. Equities analysts forecast that Cardinal Infrastructure Group Inc. will post 1.87 EPS for the current fiscal year.

Cardinal Infrastructure Group Company Profile

We provide a comprehensive suite of infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets. Our operations leverage a large highly skilled workforce and a fleet of specialized equipment to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. We are becoming the platform of choice for a diverse array of infrastructure construction projects in our target geographies that require high-level technical expertise and sophistication.