Cardinal Infrastructure Group Inc. $CDNL Stock Position Boosted by Wasatch Advisors LP

Wasatch Advisors LP raised its stake in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 693,050 shares of the company’s stock after buying an additional 9,064 shares during the period. Wasatch Advisors LP owned approximately 1.62% of Cardinal Infrastructure Group worth $27,483,000 as of its most recent SEC filing.

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

Cardinal Infrastructure Group Trading Up 0.0%

NASDAQ CDNL opened at $92.00 on Friday. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $93.72. The firm has a fifty day moving average of $59.19.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The company had revenue of $418.92 million for the quarter. As a group, analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.87 EPS for the current year.

Analysts Set New Price Targets

CDNL has been the subject of a number of research analyst reports. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Oppenheimer upped their price objective on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Finally, Stifel Nicolaus raised their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Infrastructure Group has a consensus rating of “Hold” and a consensus price target of $59.33.

Insider Activity at Cardinal Infrastructure Group

In related news, COO Benjamin Wood bought 20,000 shares of Cardinal Infrastructure Group stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the completion of the acquisition, the chief operating officer directly owned 20,000 shares in the company, valued at approximately $1,026,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.