Bastion Asset Management Inc. Takes Position in Cardinal Infrastructure Group Inc. $CDNL

Bastion Asset Management Inc. purchased a new position in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) in the 1st quarter, HoldingsChannel reports. The fund purchased 109,080 shares of the company’s stock, valued at approximately $4,016,000.

A number of other hedge funds also recently bought and sold shares of CDNL. Strs Ohio purchased a new stake in Cardinal Infrastructure Group during the 1st quarter valued at about $87,000. Barclays PLC bought a new stake in Cardinal Infrastructure Group during the 4th quarter valued at about $152,000. Zuckerman Investment Group LLC purchased a new position in Cardinal Infrastructure Group in the fourth quarter worth about $242,000. XTX Topco Ltd purchased a new position in Cardinal Infrastructure Group in the fourth quarter worth about $242,000. Finally, Oxford Asset Management LLP bought a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth approximately $355,000.

Cardinal Infrastructure Group Price Performance

CDNL stock opened at $71.39 on Friday. The stock has a market cap of $3.06 billion and a P/E ratio of 310.39. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $96.40. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average price of $66.31.

Cardinal Infrastructure Group (NASDAQ:CDNL) last posted its quarterly earnings data on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The firm had revenue of $418.92 million for the quarter. As a group, analysts expect that Cardinal Infrastructure Group Inc. will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Activity

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

Cardinal Infrastructure Group 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.