604,300 Shares in Cardinal Infrastructure Group Inc. $CDNL Bought by TimesSquare Capital Management LLC

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

Separately, Taylor Frigon Capital Management LLC purchased a new stake in Cardinal Infrastructure Group during the 4th quarter worth $1,209,000.

Cardinal Infrastructure Group Trading Down 3.7%

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

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly earnings results on Monday, March 23rd. The company reported $1.98 EPS 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 1.99 EPS for the current year.

Insider Activity at Cardinal Infrastructure Group

In related news, Director Ivy Zelman purchased 6,921 shares of Cardinal Infrastructure Group stock in a transaction dated Thursday, March 26th. The shares were acquired at an average price of $36.33 per share, with a total value of $251,439.93. Following the completion of the transaction, the director owned 15,326 shares of the company’s stock, valued at approximately $556,793.58. This trade represents a 82.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 61.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stifel Nicolaus upped 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 report on Wednesday, May 13th. DA Davidson upped their price objective on shares of Cardinal Infrastructure Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Zacks Research cut shares of Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Weiss Ratings assumed coverage on shares of Cardinal Infrastructure Group in a research report on Monday, March 9th. They issued a “sell (e)” rating for the company. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cardinal Infrastructure Group has an average rating of “Hold” and an average target price of $49.00.

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.