Cardinal Infrastructure Group Inc. $CDNL Position Lifted by Engle Capital Management L.P.

Key Points

• Engle Capital Management increased its Cardinal Infrastructure Group stake by 142.7% in the first quarter, acquiring 187,000 additional shares for a total of 318,000 shares valued at approximately $12.6 million.
• Several other institutional investors recently built positions, while COO Benjamin Wood purchased 20,000 shares at $51.30 each. Insiders collectively own 61.7% of the company.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $59.33 target price, despite price-target increases from Stifel and Oppenheimer. Cardinal reported quarterly revenue of $418.92 million and EPS of $1.98.

Engle Capital Management L.P. increased its position in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Free Report) by 142.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 318,000 shares of the company's stock after acquiring an additional 187,000 shares during the quarter. Cardinal Infrastructure Group makes up about 4.3% of Engle Capital Management L.P.'s portfolio, making the stock its 8th biggest holding. Engle Capital Management L.P. owned approximately 0.74% of Cardinal Infrastructure Group worth $12,610,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC purchased a new position in Cardinal Infrastructure Group during the fourth quarter worth about $31,082,000. Ophir Asset Management Pty Ltd purchased a new stake in shares of Cardinal Infrastructure Group in the 4th quarter valued at approximately $23,865,000. Wasatch Advisors LP grew its stake in shares of Cardinal Infrastructure Group by 1.3% in the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company's stock valued at $27,483,000 after buying an additional 9,064 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Cardinal Infrastructure Group during the 4th quarter worth approximately $14,992,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at approximately $14,612,000.

Insider Buying and Selling at Cardinal Infrastructure Group

In other news, COO Benjamin Wood acquired 20,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were purchased at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the acquisition, the chief operating officer owned 20,000 shares of the company's stock, valued at $1,026,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 61.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings upgraded Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a research report on Monday, June 1st. 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 research report on Wednesday, May 13th. Oppenheimer upped their price target 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. Finally, Zacks Research cut Cardinal Infrastructure Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $59.33.

Cardinal Infrastructure Group Stock Performance

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

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last announced its earnings results on Monday, March 23rd. The company reported $1.98 earnings per share (EPS) for the quarter. The firm had revenue of $418.92 million during the quarter. Research analysts forecast that Cardinal Infrastructure Group Inc. will post 1.86 earnings per share for the current fiscal year.

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.

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