Richard Bennett Wimmer Buys 7,500 Shares of Cardinal Infrastructure Group (NASDAQ:CDNL) Stock

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) Director Richard Bennett Wimmer acquired 7,500 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was bought at an average price of $39.13 per share, for a total transaction of $293,475.00. Following the completion of the acquisition, the director owned 29,349 shares of the company’s stock, valued at approximately $1,148,426.37. The trade was a 34.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cardinal Infrastructure Group Price Performance

Shares of CDNL opened at $43.33 on Thursday. The company’s 50-day moving average is $67.48 and its 200-day moving average is $50.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a market capitalization of $1.86 billion and a PE ratio of 78.78. Cardinal Infrastructure Group Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $96.40.

Cardinal Infrastructure Group (NASDAQ:CDNL) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The company had revenue of $226.93 million for the quarter. Equities analysts forecast that Cardinal Infrastructure Group Inc. will post 1.82 EPS for the current year.

Institutional Investors Weigh In On Cardinal Infrastructure Group

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new stake in Cardinal Infrastructure Group during the second quarter worth approximately $14,687,000. Ranger Investment Management L.P. bought a new stake in shares of Cardinal Infrastructure Group during the 2nd quarter valued at $11,768,000. Bank of America Corp DE lifted its position in shares of Cardinal Infrastructure Group by 139.4% during the 1st quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock valued at $4,989,000 after acquiring an additional 73,259 shares during the period. California State Teachers Retirement System acquired a new stake in shares of Cardinal Infrastructure Group during the 1st quarter worth $28,000. Finally, Engle Capital Management L.P. grew its holdings in shares of Cardinal Infrastructure Group by 142.7% during the 1st quarter. Engle Capital Management L.P. now owns 318,000 shares of the company’s stock worth $12,610,000 after purchasing an additional 187,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CDNL shares. Oppenheimer lowered their target price on Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Stifel Nicolaus lowered their price objective on Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Finally, Zacks Research downgraded Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cardinal Infrastructure Group presently has an average rating of “Hold” and a consensus target price of $52.33.

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.