Cardinal Infrastructure Group Inc. $CDNL is Engle Capital Management L.P.’s 8th Largest Position

Engle Capital Management L.P. lifted its holdings in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) by 142.7% in the first quarter, HoldingsChannel reports. The firm owned 318,000 shares of the company’s stock after buying an additional 187,000 shares during the quarter. Cardinal Infrastructure Group makes up approximately 4.3% of Engle Capital Management L.P.’s holdings, making the stock its 8th biggest holding. Engle Capital Management L.P.’s holdings in Cardinal Infrastructure Group were worth $12,610,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $31,082,000. Ophir Asset Management Pty Ltd acquired a new position in shares of Cardinal Infrastructure Group in the fourth quarter worth $23,865,000. Wasatch Advisors LP grew its stake in shares of Cardinal Infrastructure Group by 1.3% in the first quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock worth $27,483,000 after acquiring an additional 9,064 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth $14,992,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Cardinal Infrastructure Group during the fourth quarter worth $14,612,000.

Insider Buying and Selling

In other Cardinal Infrastructure Group news, COO Benjamin Wood purchased 20,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were 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 approximately $1,026,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 61.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CDNL. Stifel Nicolaus lifted their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, Oppenheimer lifted their price objective on Cardinal Infrastructure Group from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.33.

Cardinal Infrastructure Group Stock Down 0.1%

NASDAQ CDNL opened at $63.26 on Tuesday. Cardinal Infrastructure Group Inc. has a 52 week low of $21.98 and a 52 week high of $96.40. The business’s 50 day moving average price is $68.28. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.73. The firm has a market cap of $2.71 billion and a PE ratio of 275.04.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings data on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The firm had revenue of $418.92 million during the quarter. On average, equities research analysts expect that Cardinal Infrastructure Group Inc. will post 1.86 earnings per share for the current fiscal year.

About Cardinal Infrastructure Group

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.