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Cardinal Infrastructure Group (CDNL) PT Lowered to $30 at Truist Securities

Tue, 20 Oct 2026 09:23:47 -0400

(Updated - October 20, 2026 9:23 AM EDT)

Truist Securities analyst Keith Hughes lowered the price target on Cardinal Infrastructure Group (NASDAQ: CDNL) to $30.00 (from $40.00) while maintaining a Buy rating.

The analyst commented: "CDNL shares have fallen 29% since the Hughes Brothers (private) deal was announced on 10/13, mostly in our view due to the financing. We think the operational dynamics of the deal are good in that it moves CDNL into the Florida market with well above average margin platform business. Management has now revised the financing using less equity, a defined number of shares issued, a higher longer

Cardinal Infrastructure Group (CDNL) PT Lowered to $30 at Truist Securities

Tue, 20 Oct 2026 09:23:47 -0400

(Updated - October 20, 2026 9:23 AM EDT)

Truist Securities analyst Keith Hughes lowered the price target on Cardinal Infrastructure Group (NASDAQ: CDNL) to $30.00 (from $40.00) while maintaining a Buy rating.

Form SCHEDULE 13G Cardinal Infrastructure Filed by: Conversant Capital LLC

Mon, 19 Oct 2026 18:34:00 -0400

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Form 8-K Cardinal Infrastructure For: Oct 13

Mon, 19 Oct 2026 08:59:00 -0400

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Cardinal Infrastructure revises deal terms for Hughes Brothers acquisition

Mon, 19 Oct 2026 07:30:28 -0400

Cardinal Infrastructure Group (NASDAQ: CDNL) has amended its agreement to acquire Hughes Brothers Construction Inc., a Central Florida heavy civil and site development contractor, maintaining the $357.5 million purchase price but adjusting the payment structure.

Under the revised terms, the consideration mix shifts to 60% cash and 40% Cardinal Class A common stock, from the previously announced 50/50 split. Hughes Brothers' owners will receive approximately $214.5 million in cash and 5,255,420 shares of Cardinal Class A common stock, priced at $27.21 per share.

The amendment also revises the earnout provision. Sellers are now eligible to receive up to $162.5 million based on

Cardinal Infrastructure Group (CDNL) Enters into Amended Agreement for Acquisition of Hughes Brothers Construction Inc.

Mon, 19 Oct 2026 07:30:00 -0400

RALEIGH, N.C., Oct. 19, 2026 /PRNewswire/ -- Cardinal Infrastructure Group, Inc., (NASDAQ: CDNL) ("Cardinal" or the "Company") today announced that it has entered into an amendment to its previously announced agreement to acquire Hughes Brothers Construction Inc. ("Hughes Brothers"), a leading Central Florida heavy civil and site development contractor.

Cardinal Infrastructure Group (CDNL) Enters into Amended Agreement for Acquisition of Hughes Brothers Construction Inc.

Mon, 19 Oct 2026 07:30:00 -0400

Cardinal Infrastructure Group (CDNL) PT Lowered to $34 at Stifel

Wed, 14 Oct 2026 07:06:23 -0400

Stifel analyst Brian Brophy lowered the price target on Cardinal Infrastructure Group (NASDAQ: CDNL) to $34.00 (from $52.00) while maintaining a Buy rating.

Cardinal Infrastructure to acquire Hughes Brothers for $357.5M

Tue, 13 Oct 2026 06:30:19 -0400

Cardinal Infrastructure Group, Inc. (NASDAQ: CDNL) has entered into a definitive agreement to acquire Hughes Brothers Construction, Inc., a Central Florida heavy civil and site development contractor, for $357.5 million, according to a company press release.

The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions. The consideration will be funded through a combination of cash and Cardinal Class A common stock, with the cash portion expected to be funded through new debt financing and cash on hand. Shares issued to selling stockholders will be subject to a 180-day lock-up period.

Selling

Cardinal Infrastructure Group (CDNL) Announces Acquisition of Hughes Brothers Construction, Inc.

Tue, 13 Oct 2026 06:30:00 -0400

RALEIGH, N.C., Oct. 13, 2026 /PRNewswire/ -- Cardinal Infrastructure Group, Inc., (NASDAQ: CDNL) ("Cardinal" or the "Company") announced today that it has entered into a definitive agreement to acquire Hughes Brothers Construction, Inc., ("Hughes Brothers"), a leading Central Florida heavy civil and site development contractor for $357.5 million at a purchase price multiple consistent with Cardinal's typical range for new market platform acquisitions. The transaction is expected to close

Cardinal Infrastructure Group (CDNL) Announces Acquisition of Hughes Brothers Construction, Inc.

Tue, 13 Oct 2026 06:30:00 -0400

CDNL: Cardinal Infrastructure Group Investors with Losses Should Contact Block & Leviton to Discuss Recovery Options

Wed, 07 Oct 2026 16:13:00 -0400

Boston, Massachusetts--(Newsfile Corp. - October 7, 2026) - Block & Leviton is investigating Cardinal Infrastructure Group (NASDAQ: CDNL) for potential securities law violations. Investors who have lost money in their Cardinal Infrastructure Group investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/cdnl.

What is this all about?

Block & Leviton is investigating whether Cardinal Infrastructure Group and certain of its executives may have violated federal securities laws. On August 11, 2026, Cardinal disclosed that its adjusted EBITDA margin had collapsed to 12.4% from 18.6% a year earlier and cut its

CDNL: Cardinal Infrastructure Group Investors with Losses Should Contact Block & Leviton to Discuss Recovery Options

Wed, 07 Oct 2026 16:13:00 -0400

What is this all about?

CDNL INVESTIGATION: Cardinal Infrastructure Group Investors Should Contact Block & Leviton About Ongoing Investigation

Fri, 02 Oct 2026 16:15:00 -0400

Boston, Massachusetts--(Newsfile Corp. - October 2, 2026) - Block & Leviton is investigating Cardinal Infrastructure Group (NASDAQ: CDNL) for potential securities law violations. Investors who have lost money in their Cardinal Infrastructure Group investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/cdnl.

What is this all about?

CDNL INVESTIGATION: Cardinal Infrastructure Group Investors Should Contact Block & Leviton About Ongoing Investigation

Fri, 02 Oct 2026 16:15:00 -0400

What is this all about?

Form 8-K Cardinal Infrastructure For: Oct 01

Thu, 01 Oct 2026 16:31:00 -0400

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Cardinal Infrastructure Group, Inc., Announces Closing of Allied Paving Contractors Acquisition

Thu, 01 Oct 2026 16:30:00 -0400

RALEIGH, N.C., Oct. 1, 2026 /PRNewswire/ -- Cardinal Infrastructure Group, Inc., (NASDAQ: CDNL) ("Cardinal" or "the Company") announced today the closing of its acquisition of Allied Paving Contractors. The acquisition expands Cardinal's self-performing capabilities in the Atlanta market. Allied generated approximately $100 million in revenue on a standalone basis. A portion of that volume will be performed on Cardinal projects and therefore reflected in margin rather than consolidated revenue.

Cardinal Infrastructure Group, Inc., Announces Closing of Allied Paving Contractors Acquisition

Thu, 01 Oct 2026 16:30:00 -0400

Truist Securities Starts Cardinal Infrastructure Group (CDNL) at Buy

Fri, 25 Sep 2026 05:06:47 -0400

Truist Securities analyst Keith Hughes initiates coverage on Cardinal Infrastructure Group (NASDAQ: CDNL) with a Buy rating and a price target of $40.00.

For an analyst ratings summary and ratings history on Cardinal Infrastructure Group click here. For more ratings news on Cardinal Infrastructure Group click here.

Shares of Cardinal Infrastructure Group closed at $27.54 yesterday.

Cardinal Infrastructure expands credit facility to $550 million

Thu, 24 Sep 2026 18:03:26 -0400

Cardinal Infrastructure Group Inc. (Nasdaq: CDNL) announced that its subsidiary, Cardinal Civil Contracting, LLC, has entered into a second amendment to its senior secured credit agreement, bringing total credit facility commitments to $550 million.

The amendment adds a new $250 million delayed draw term loan and increases the revolving credit facility from $75 million to $100 million. The existing facility includes a Term Loan A originally totaling $200 million.

Under the terms of the delayed draw term loan, the company may draw in up to five separate advances over 18 months through March 2028. Cardinal said it intends to use the proceeds

Cardinal Infrastructure Group Completes Syndication of Expanded Credit Facility

Thu, 24 Sep 2026 18:02:00 -0400

Expanded committed capacity enhances financial flexibility

RALEIGH, N.C., Sep 24, 2026 /PRNewswire/ -- Cardinal Infrastructure Group Inc. (Nasdaq: CDNL) ("Cardinal" or the "Company") today announced that its subsidiary, Cardinal Civil Contracting, LLC, has entered into a second amendment to its senior secured credit agreement. The amendment adds a new delayed draw term loan facility of up to $250

Cardinal Infrastructure Group Completes Syndication of Expanded Credit Facility

Thu, 24 Sep 2026 18:02:00 -0400

Expanded committed capacity enhances financial flexibility

Form 8-K Cardinal Infrastructure For: Sep 10

Fri, 11 Sep 2026 16:45:00 -0400

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CDNL INVESTORS: Block & Leviton Investigating Cardinal Infrastructure Group for Possible Securities Fraud

Mon, 24 Aug 2026 10:01:00 -0400

Boston, Massachusetts--(Newsfile Corp. - August 24, 2026) - Block & Leviton is investigating Cardinal Infrastructure Group (NASDAQ: CDNL) for potential securities law violations. Investors who have lost money in their Cardinal Infrastructure Group investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/cdnl.

What is this all about?

CDNL INVESTORS: Block & Leviton Investigating Cardinal Infrastructure Group for Possible Securities Fraud

Mon, 24 Aug 2026 10:01:00 -0400

What is this all about?