CDNL
Cardinal Infrastructure Group Inc. Class A Common StockIndustrials·Industrial - Infrastructure Operations
$51.89
$794M market cap
Revenue
$313.3M
Free Cash Flow
$-0.5M
Rev Growth
+0.0%
FCF Margin
-0.2%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Cardinal Infrastructure Group Inc., a civil contracting company, provides infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets in the United States. It offers wet utility installations, such as water, sewer, and stormwater systems, as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. The company was formerly known as Civil Infrastructure Group Inc. and changed its name to Car
2-Year Price History
$48.85+64.8%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 167.5 | 14.8 | 14,780 | 13.6 | 9.3 | 0.0 | -9.3 | 44.0 | 227.2 | 15.1 | >999% | 6.6x | -- |
| Act | 2025-Q4 | 145.8 | 17.4 | 8.8 | 13.5 | 11.6 | -0.5 | -12.1 | 97.2 | 137.3 | 14.0 | 22.5% | 5.8x | -- |
Valuation & Metrics
Market Stats
Price$51.89
Market Cap$794M
Enterprise Value$977M
P/S Ratio2.5x
P/FCF--
EV/FCF--
FCF Margin (TTM)-0.2%
FCF Yield-0.1%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$313.3M
Net Income$27.1M
Free Cash Flow$-0.5M
Revenue Growth (YoY)+0.0%
EBITDA Margin10.3%
Net Margin8.6%
FCF Margin-0.2%
CapEx % of Revenue6.8%
SBC % of Revenue0.1%
ROIC6588.0%
WC Change % Rev17.1%
Interest Coverage41.4x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.5M
Days to Cover3.8
Change (vs Prior)+31.4%
Need at least 2 settlement dates for chart
Employees
Headcount1,335
Revenue / Employee$234,695
Gross Profit / Employee$48,991
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
67.0%(+24.4% YoY)
83 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
10.9%(+10.7% YoY)
8 filers
Vanguard, iShares, SPDR
Market makers
0.0%(-0.1% YoY)
2 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| FMR LLC | $78.8M | $26.82 | +$13.4M | +$78.8M | -0.0% | $1.89T |
| ACK Asset Management LLC | $34.7M | $24.70 | +$1.2M | +$34.7M | +1.0% | $801M |
| Ophir Asset Management Pty Ltd | $31.8M | $24.18 | −$7.3M | +$31.8M | +0.6% | $859M |
| LORD, ABBETT & CO. LLC | $29.8M | $31.77 | +$14.6M | +$29.8M | +0.4% | $30.58B |
| BlackRock, Inc.Passive | $27.6M | $39.66 | +$27.7M | +$27.6M | -0.2% | $5.69T |
| WASATCH ADVISORS INC | $27.5M | $24.38 | +$359K | +$27.5M | -2.9% | $14.87B |
| FRED ALGER MANAGEMENT, LLC | $27.2M | $34.14 | +$17.5M | +$27.2M | -0.3% | $22.77B |
| DRIEHAUS CAPITAL MANAGEMENT LLC | $26.2M | $27.75 | +$6.0M | +$26.2M | +0.3% | $13.60B |
| EMERALD ADVISERS, LLC | $22.9M | $25.93 | +$2.6M | +$22.9M | -0.1% | $3.16B |
| ALLIANCEBERNSTEIN L.P. | $22.5M | $24.18 | −$386K | +$22.5M | -0.3% | $307.70B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $20.4M | $39.66 | +$20.4M | +$20.4M | — | $4.04T |
| Conversant Capital LLC | $18.7M | $39.66 | +$18.7M | +$18.7M | -4.8% | $725M |
| Schonfeld Strategic Advisors LLC | $17.4M | $24.18 | −$33.5M | +$17.4M | +1.3% | $12.20B |
| PRINCIPAL FINANCIAL GROUP INC | $17.0M | $34.48 | +$11.3M | +$17.0M | -0.5% | $186.29B |
| EMERALD MUTUAL FUND ADVISERS TRUST | $14.2M | $26.73 | +$2.3M | +$14.2M | -0.5% | $2.06B |
| FEDERATED HERMES, INC. | $14.2M | $24.18 | −$453K | +$14.2M | -1.1% | $61.33B |
| Nuveen, LLC | $13.6M | $26.13 | +$1.7M | +$13.6M | +0.0% | $368.63B |
| Engle Capital Management, L.P. | $12.6M | $33.28 | +$7.4M | +$12.6M | +1.9% | $293M |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $12.2M | $39.66 | +$12.2M | +$12.2M | +2.3% | $1.61T |
| STATE STREET CORPPassive | $10.6M | $39.66 | +$10.6M | +$10.6M | -0.2% | $2.89T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-0.19%
avg per quarter
Holders (ex-self)
-0.21%
excl. this stock
Buyers (this Q)
-0.41%
81 buyers · $0.33B in
Sellers (this Q)
+2.54%
10 sellers · $0.01B out
alpha coverage: 95% of $ has a lifetime-alpha record
Holder behavior (holder profile)source: holder
On big dips (−10%+)
-10.8%
how holders react when this stock falls
On quiet Qs
-5.6%
−10% to +10% baseline
On rallies (+10%+)
-1.9%
how they react when this stock rises
Holders' portfolio flow this Q
+0.6%
inflows — adds are organic
Sellers' portfolio flow this Q
-77.2%
Sellers shed AUM broadly — partly forced.
Biggest decreases this quarter
Schonfeld Strategic Advisors LLC−$33.5Mα+1.3ADAGE CAPITAL PARTNERS GP, L.L.C.exited−$15.0MTimesSquare Capital Management, LLCexited−$14.6MCITADEL ADVISORS LLCexited−$9.9MOphir Asset Management Pty Ltd−$7.3Mα+0.6MILLENNIUM MANAGEMENT LLCexited−$6.7MAllspring Global Investments Holdings, LLCexited−$3.6MAYAL Capital Advisors Ltdexited−$2.3MHudson Bay Capital Management LPexited−$2.2MCenterBook Partners LPexited−$2.0M
New buyers this quarter
Top-5 holders · 34.9%
FMR LLC--
ACK Asset Management LLC--
Ophir Asset Management Pty Ltd--
LORD, ABBETT & CO. LLC--
BlackRock, Inc.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
FMR LLC2.0MACK Asset Management LLC874KOphir Asset Management Pty Ltd803KSchonfeld Strategic Advisors LLC440KLORD, ABBETT & CO. LLC752KWASATCH ADVISORS INC693KFRED ALGER MANAGEMENT, LLC687KDRIEHAUS CAPITAL MANAGEMENT LLC661KEMERALD ADVISERS, LLC579KALLIANCEBERNSTEIN L.P.932K
Analyst Coverage
Analyst Coverage
Price Targets
Last Year (4 analysts)$31.00-4030.0%
Current Price$51.89
Analyst Ratings
2
Buy: 2Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$251K
1 txn · 1 insider · 6,921 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-03-26 | BUY | Zelman Ivy | director | 6,921 | $36.33 | $251K | $557K |
Order Flow (FINRA, ~3w lag)
17.6%retail-4.5pp
35.9%dark+14.1pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.