CenterBook Partners LP Buys New Position in Cardinal Infrastructure Group Inc. $CDNL

CenterBook Partners LP bought a new position in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 82,459 shares of the company’s stock, valued at approximately $1,994,000. CenterBook Partners LP owned 0.23% of Cardinal Infrastructure Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CDNL. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $850,000. Taylor Frigon Capital Management LLC acquired a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at about $1,209,000. Goldman Sachs Group Inc. bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $3,893,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $14,612,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CDNL shares. Oppenheimer initiated coverage on shares of Cardinal Infrastructure Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $60.00 price target on the stock. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Stifel Nicolaus lifted their price target 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. Finally, DA Davidson boosted 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. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.67.

Cardinal Infrastructure Group Price Performance

Shares of CDNL stock opened at $61.81 on Wednesday. Cardinal Infrastructure Group Inc. has a 12 month low of $21.98 and a 12 month high of $66.87. The stock’s 50 day simple moving average is $50.62.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its earnings results on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The company had revenue of $418.92 million for the quarter. Equities analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.84 earnings per share for the current fiscal year.

Insider Transactions at Cardinal Infrastructure Group

In other news, COO Benjamin Wood purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average cost of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the purchase, the chief operating officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,026,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ivy Zelman acquired 6,921 shares of the stock in a transaction dated Thursday, March 26th. The shares were purchased at an average price of $36.33 per share, for a total transaction of $251,439.93. Following the completion of the transaction, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. 61.70% of the stock is owned by company 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.