Emerald Advisers LLC Raises Holdings in Cardinal Infrastructure Group Inc. $CDNL

Emerald Advisers LLC lifted its position in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) by 12.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 578,600 shares of the company’s stock after purchasing an additional 65,245 shares during the period. Emerald Advisers LLC’s holdings in Cardinal Infrastructure Group were worth $22,944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Taylor Frigon Capital Management LLC purchased a new position in Cardinal Infrastructure Group during the 4th quarter worth approximately $1,209,000. Kornitzer Capital Management Inc. KS purchased a new stake in Cardinal Infrastructure Group in the fourth quarter valued at approximately $850,000. TimesSquare Capital Management LLC purchased a new stake in Cardinal Infrastructure Group in the fourth quarter valued at approximately $14,612,000. Goldman Sachs Group Inc. acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $3,893,000. Finally, CenterBook Partners LP acquired a new stake in shares of Cardinal Infrastructure Group in the fourth quarter valued at approximately $1,994,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Cardinal Infrastructure Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Oppenheimer increased their price target on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Weiss Ratings raised shares of Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cardinal Infrastructure Group has a consensus rating of “Moderate Buy” and a consensus price target of $59.33.

Cardinal Infrastructure Group Stock Down 4.8%

CDNL opened at $64.86 on Tuesday. The firm’s 50 day moving average is $65.31. 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 stock has a market cap of $2.78 billion and a P/E ratio of 282.00. Cardinal Infrastructure Group Inc. has a 52 week low of $21.98 and a 52 week high of $96.40.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its 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. As a group, sell-side analysts expect that Cardinal Infrastructure Group Inc. will post 1.86 EPS for the current fiscal year.

Insider Activity at Cardinal Infrastructure Group

In related news, COO Benjamin Wood purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased 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 $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 61.70% of the stock is owned by company insiders.

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.