Cardinal Infrastructure Group (NASDAQ:CDNL) Reaches New 52-Week High – Here’s What Happened

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $35.76 and last traded at $34.40, with a volume of 13550 shares traded. The stock had previously closed at $34.22.

Analyst Ratings Changes

CDNL has been the topic of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of Cardinal Infrastructure Group from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. DA Davidson upped their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $33.00.

Cardinal Infrastructure Group Price Performance

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC bought a new position in shares of Cardinal Infrastructure Group during the 4th quarter worth $31,082,000. Ophir Asset Management Pty Ltd purchased a new stake in Cardinal Infrastructure Group during the fourth quarter valued at about $23,865,000. Wasatch Advisors LP bought a new position in Cardinal Infrastructure Group during the fourth quarter worth about $16,539,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth about $14,992,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $14,612,000.

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.