Principal Financial Group Inc. Has $16.98 Million Stake in Cardinal Infrastructure Group Inc. $CDNL

Principal Financial Group Inc. raised its position in shares of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) by 198.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 428,263 shares of the company’s stock after acquiring an additional 284,918 shares during the quarter. Principal Financial Group Inc. owned about 1.00% of Cardinal Infrastructure Group worth $16,983,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Taylor Frigon Capital Management LLC raised its position in shares of Cardinal Infrastructure Group by 73.5% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 86,774 shares of the company’s stock worth $3,441,000 after acquiring an additional 36,774 shares in the last quarter. Strs Ohio bought a new stake in shares of Cardinal Infrastructure Group during the 1st quarter valued at about $87,000. Wasatch Advisors LP boosted its position in shares of Cardinal Infrastructure Group by 1.3% during the 1st quarter. Wasatch Advisors LP now owns 693,050 shares of the company’s stock valued at $27,483,000 after purchasing an additional 9,064 shares in the last quarter. XTX Topco Ltd acquired a new stake in Cardinal Infrastructure Group during the fourth quarter worth approximately $242,000. Finally, Readystate Asset Management LP acquired a new stake in Cardinal Infrastructure Group during the fourth quarter worth approximately $2,539,000.

Insider Buying and Selling

In other news, COO Benjamin Wood acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average price of $51.30 per share, for a total transaction of $1,026,000.00. Following the completion of the acquisition, the chief operating officer directly owned 20,000 shares in the company, valued at $1,026,000. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 61.70% of the company’s stock.

Cardinal Infrastructure Group Price Performance

CDNL stock opened at $70.18 on Thursday. 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’s 50-day moving average is $67.48. The company has a market cap of $3.01 billion and a PE ratio of 305.13. Cardinal Infrastructure Group Inc. has a 1 year low of $21.98 and a 1 year high of $96.40.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings raised Cardinal Infrastructure Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Zacks Research cut Cardinal Infrastructure Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Oppenheimer raised their price objective on shares of Cardinal Infrastructure Group from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Finally, Stifel Nicolaus lifted their price objective on shares of Cardinal Infrastructure Group from $41.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cardinal Infrastructure Group presently has a consensus rating of “Hold” and an average target price of $59.33.

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.