Taylor Frigon Capital Management LLC Has $3.44 Million Holdings in Cardinal Infrastructure Group Inc. $CDNL

Key Points

• Taylor Frigon Capital Management increased its stake in Cardinal Infrastructure Group by 73.5% in the first quarter, ending with 86,774 shares valued at about $3.44 million. The stock now makes up 2.0% of the firm’s portfolio and is its largest holding.
• Analysts have turned more positive on CDNL, with Oppenheimer and Stifel Nicolaus both raising price targets, and Zacks Research upgrading the stock to strong-buy. MarketBeat data shows a consensus rating of Moderate Buy with a $59.33 average price target.
• Company insiders also bought shares: COO Benjamin Wood purchased 20,000 shares at $51.30 each, and insiders collectively own 61.70% of the stock. Cardinal Infrastructure Group last reported quarterly EPS of $1.98 on revenue of $418.92 million.

Taylor Frigon Capital Management LLC raised its stake in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL - Free Report) by 73.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,774 shares of the company's stock after buying an additional 36,774 shares during the quarter. Cardinal Infrastructure Group comprises 2.0% of Taylor Frigon Capital Management LLC's portfolio, making the stock its largest holding. Taylor Frigon Capital Management LLC owned approximately 0.20% of Cardinal Infrastructure Group worth $3,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CDNL. Strs Ohio purchased a new stake in shares of Cardinal Infrastructure Group in the first quarter worth about $87,000. Barclays PLC bought a new stake in Cardinal Infrastructure Group during the 4th quarter worth approximately $152,000. XTX Topco Ltd purchased a new stake in Cardinal Infrastructure Group in the 4th quarter worth approximately $242,000. Zuckerman Investment Group LLC purchased a new stake in Cardinal Infrastructure Group in the 4th quarter worth approximately $242,000. Finally, Oxford Asset Management LLP bought a new position in Cardinal Infrastructure Group in the 4th quarter valued at $355,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CDNL shares. Oppenheimer upped their price target on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, June 15th. Weiss Ratings raised Cardinal Infrastructure Group from a "sell (e)" rating to a "sell (e+)" rating in a research note on Monday, June 1st. Stifel Nicolaus boosted their target price on Cardinal Infrastructure Group from $41.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Finally, Zacks Research upgraded Cardinal Infrastructure Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.33.

Insider Transactions at Cardinal Infrastructure Group

In related news, COO Benjamin Wood acquired 20,000 shares of Cardinal Infrastructure Group stock in a transaction dated Wednesday, May 27th. The shares were purchased 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 61.70% of the stock is currently owned by insiders.

Cardinal Infrastructure Group Price Performance

Shares of NASDAQ CDNL opened at $68.29 on Thursday. The company has a market capitalization of $2.93 billion and a PE ratio of 296.91. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.73 and a quick ratio of 1.73. Cardinal Infrastructure Group Inc. has a one year low of $21.98 and a one year high of $96.40. The company's 50 day simple moving average is $64.19.

Cardinal Infrastructure Group (NASDAQ:CDNL - Get Free Report) last released its earnings results on Monday, March 23rd. The company reported $1.98 EPS for the quarter. The business had revenue of $418.92 million for the quarter. As a group, equities analysts expect that Cardinal Infrastructure Group Inc. will post 1.87 earnings per share for the current fiscal year.

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.

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