Engle Capital Management L.P. Takes Position in Cardinal Infrastructure Group Inc. $CDNL

Engle Capital Management L.P. acquired a new stake in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 131,000 shares of the company’s stock, valued at approximately $3,168,000. Cardinal Infrastructure Group makes up 1.2% of Engle Capital Management L.P.’s holdings, making the stock its 23rd biggest holding. Engle Capital Management L.P. owned 0.36% of Cardinal Infrastructure Group as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new stake in Cardinal Infrastructure Group in the 4th quarter worth about $4,752,000. Aventail Capital Group LP acquired a new stake in Cardinal Infrastructure Group in the 4th quarter worth about $1,680,000. AYAL Capital Advisors Ltd acquired a new stake in Cardinal Infrastructure Group in the 4th quarter worth about $2,278,000. Schonfeld Strategic Advisors LLC acquired a new stake in Cardinal Infrastructure Group in the 4th quarter worth about $31,082,000. Finally, J. Goldman & Co LP acquired a new stake in Cardinal Infrastructure Group in the 4th quarter worth about $1,809,000.

Wall Street Analysts Forecast Growth

CDNL has been the topic of several research analyst reports. Weiss Ratings upgraded Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Stifel Nicolaus lifted their price objective on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. DA Davidson lifted their price objective on Cardinal Infrastructure Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Oppenheimer raised 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. Three 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, the company has an average rating of “Hold” and an average price target of $59.33.

Insiders Place Their Bets

In related news, Director Ivy Zelman bought 6,921 shares of the business’s stock in a transaction on Thursday, March 26th. The stock was acquired at an average cost of $36.33 per share, with a total value of $251,439.93. Following the purchase, the director directly owned 15,326 shares of the company’s stock, valued at $556,793.58. The trade was a 82.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Benjamin Wood bought 20,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $51.30 per share, with a total value 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. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 61.70% of the stock is owned by company insiders.

Cardinal Infrastructure Group Trading Up 6.0%

NASDAQ:CDNL opened at $74.89 on Thursday. Cardinal Infrastructure Group Inc. has a twelve month low of $21.98 and a twelve month high of $77.44. The stock has a 50-day simple moving average of $53.99.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued 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 during the quarter. On average, research analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.87 earnings per share for the current 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.