Benjamin Wood Buys 20,000 Shares of Cardinal Infrastructure Group (NASDAQ:CDNL) Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) COO Benjamin Wood purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was bought 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 in the company, valued at $1,026,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cardinal Infrastructure Group Stock Performance

Shares of Cardinal Infrastructure Group stock opened at $52.10 on Friday. Cardinal Infrastructure Group Inc. has a twelve month low of $21.98 and a twelve month high of $63.18. The company has a 50-day moving average of $47.11.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its quarterly 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. Sell-side analysts forecast that Cardinal Infrastructure Group Inc. will post 1.84 EPS for the current year.

Analyst Upgrades and Downgrades

CDNL has been the topic of a number of research reports. Stifel Nicolaus raised their target price 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. 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. Oppenheimer initiated coverage on shares of Cardinal Infrastructure Group in a research note on Thursday. They issued an “outperform” rating and a $60.00 target price on the stock. Weiss Ratings initiated coverage on shares of Cardinal Infrastructure Group in a research note on Monday, March 9th. They issued a “sell (e)” rating on the stock. Finally, DA Davidson raised their target price 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.67.

Institutional Trading of Cardinal Infrastructure Group

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

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.