TimesSquare Capital Management LLC Invests $14.61 Million in Cardinal Infrastructure Group Inc. $CDNL

TimesSquare Capital Management LLC acquired a new position in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 604,300 shares of the company’s stock, valued at approximately $14,612,000.

Separately, Taylor Frigon Capital Management LLC acquired a new stake in Cardinal Infrastructure Group during the fourth quarter worth about $1,209,000.

Insider Activity at Cardinal Infrastructure Group

In other news, Director Ivy Zelman purchased 6,921 shares of the company’s stock in a transaction on Thursday, March 26th. The shares were bought at an average price of $36.33 per share, for a total transaction of $251,439.93. Following the completion of the purchase, the director owned 15,326 shares of the company’s stock, valued at $556,793.58. This trade represents a 82.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 61.70% of the company’s stock.

Analyst Upgrades and Downgrades

CDNL has been the topic of several research reports. Zacks Research lowered shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Weiss Ratings initiated coverage on shares of Cardinal Infrastructure Group in a research note on Monday, March 9th. They set a “sell (e)” rating on the stock. Stifel Nicolaus increased their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, DA Davidson increased their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.00.

Cardinal Infrastructure Group Trading Down 3.7%

CDNL opened at $49.09 on Wednesday. The stock’s 50-day simple moving average is $43.90. Cardinal Infrastructure Group Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $63.18.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings results on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The firm had revenue of $418.92 million during the quarter. Sell-side analysts predict that Cardinal Infrastructure Group Inc. will post 1.99 earnings per share 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.