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

Taylor Frigon Capital Management LLC lifted its stake in Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) by 73.5% in the 1st quarter, HoldingsChannel reports. The firm owned 86,774 shares of the company’s stock after buying an additional 36,774 shares during the quarter. Cardinal Infrastructure Group accounts for 2.0% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its biggest position. Taylor Frigon Capital Management LLC’s holdings in Cardinal Infrastructure Group were worth $3,441,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CDNL. Schonfeld Strategic Advisors LLC bought a new position in Cardinal Infrastructure Group in the fourth quarter worth $31,082,000. Ophir Asset Management Pty Ltd bought a new stake in shares of Cardinal Infrastructure Group during the 4th quarter valued at $23,865,000. Wasatch Advisors LP grew its position 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 worth $27,483,000 after buying an additional 9,064 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Cardinal Infrastructure Group in the 4th quarter worth about $14,992,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Cardinal Infrastructure Group in the 4th quarter worth about $14,612,000.

Cardinal Infrastructure Group Price Performance

CDNL stock opened at $68.29 on Thursday. Cardinal Infrastructure Group Inc. has a 1-year low of $21.98 and a 1-year high of $96.40. The business has a fifty day simple moving average of $64.19. 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 stock has a market capitalization of $2.93 billion and a PE ratio of 296.91.

Cardinal Infrastructure Group (NASDAQ:CDNL) last released its quarterly earnings results on Monday, March 23rd. The company reported $1.98 earnings per share for the quarter. The firm had revenue of $418.92 million for the quarter. As a group, analysts anticipate that Cardinal Infrastructure Group Inc. will post 1.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, COO Benjamin Wood bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of $51.30 per share, with a total value of $1,026,000.00. Following the acquisition, the chief operating officer owned 20,000 shares in the company, valued at $1,026,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 61.70% of the company’s stock.

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.