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Cardinal Infrastructure Group Inc. director Lee Richard Melvin Jr. reported open-market purchases of Class A Common Stock on August 14, 2026. He bought 27,000 shares at a weighted average price of $36.59 and 7,000 shares at a weighted average price of $37.73, totaling 34,000 shares.
Each reported price is a weighted average for multiple trades within disclosed intraday price ranges.
Cardinal Infrastructure Group Inc. (CDNL) reported that its Chief Financial Officer, Michael Bruce Rowe Jr., purchased 7,000 shares of Class A Common Stock on 2026-08-14 in a direct ownership transaction. The shares were bought in the open market at a weighted average price of $36.53 per share, with individual trade prices ranging from $36.27 to $36.55. Following this purchase, he directly owns 7,000 shares of the company’s Class A Common Stock.
Cardinal Infrastructure Group Inc. director Anthony Leon Wood Jr. reported open-market purchases of Class A Common Stock. On 2026-08-14, he purchased 34,019 shares at a weighted average price of $39.16 per share and 17,381 shares at a weighted average price of $39.75 per share. Each reported price is a weighted average for multiple trades within stated intraday ranges.
Cardinal Infrastructure Group Inc. director and Chief Executive Officer Jeremy Simmons Spivey reported open-market purchases of 83,350 shares of Class A Common Stock on August 14, 2026, in four separate transactions. Reported weighted average prices were $36.58, $37.69, $38.82, and $39.65 per share, each reflecting multiple trades within specified price ranges. The filing indicates these trades were not made under a Rule 10b5-1 trading plan.
Zelman Ivy, a director of Cardinal Infrastructure Group Inc. (CDNL), reported purchasing 12,647 shares of Class A Common Stock on 2026-08-14 in an open market or private transaction at a weighted average price of $39.61 per share, with individual trade prices ranging from $39.45 to $39.81. Following this purchase, Ivy directly owns 32,891 shares of the company.
Cardinal Infrastructure Group Inc. officer Benjamin Wood, Chief Operating Officer, reported open-market purchases of the company’s Class A Common Stock on 2026-08-14. He purchased 13,627 shares at a weighted-average price of $39.22 and a further 12,073 shares at a weighted-average price of $39.77, all held directly.
The first block of shares was bought in multiple trades at prices ranging from $38.60 to $39.59, and the second block in trades ranging from $39.60 to $40.00. In total, Wood bought 25,700 shares of Cardinal Infrastructure Group Inc. stock in these transactions.
AllianceBernstein L.P., a Delaware limited partnership, reports passive beneficial ownership of 982,766 shares of Cardinal Infrastructure Group Inc. common stock, representing 4.9% of the class as of June 30, 2026. These shares are held solely for investment purposes in client discretionary investment advisory accounts.
AllianceBernstein has sole voting power over 890,386 shares and sole dispositive power over all 982,766 shares, with no shared voting or dispositive power. AllianceBernstein is a majority-owned subsidiary of Equitable Holdings, Inc. but states it operates under independent management and makes independent ownership decisions.
Driehaus Capital Management LLC reported beneficial ownership of Class A common stock of Cardinal Infrastructure Group Inc. amounting to 1,208,910 shares, representing 6.08% of the class as of June 30, 2026. These shares are treated as beneficially owned by Driehaus because it has discretionary authority over client accounts holding the securities.
Driehaus reports no sole voting or dispositive power over the shares and shared voting and dispositive power over 1,208,910 shares. The holdings are spread across numerous clients’ accounts managed on a fully discretionary basis, and to the best of Driehaus’s knowledge, no individual client has the right to receive dividends or sale proceeds relating to more than 5% of the class.
Cardinal Infrastructure Group Inc. reported strong top-line growth for the six months ended June 30, 2026, driven by acquisitions and organic expansion in the Carolinas and Georgia. Revenue rose to $394.4 million from $187.9 million, and income from operations increased to $30.3 million.
Net income attributable to Cardinal Infrastructure Group Inc., however, declined to $8.1 million from $12.6 million as higher interest, amortization of acquired intangibles, transaction costs, and larger noncontrolling interests offset operating gains. Cash grew to $339.1 million from $97.1 million, supported by a $318 million follow-on equity offering and expanded term debt, with notes payable of $199.5 million. Total assets more than doubled to $1.01 billion, including major acquisitions of ALGC and Piedmont that added goodwill and intangibles; remaining performance obligations reached $619.6 million, indicating substantial contracted work.
Cardinal Infrastructure Group Inc. reported very strong growth for the quarter ended June 30, 2026, with revenue of $226.9 million, up 114% year-over-year, including 64% organic growth. Second-quarter adjusted EBITDA was $28.1 million, up 43%, while net income rose 18% to $11.1 million. Backlog reached $866 million, a 35% increase from a year earlier.
Despite the growth, profitability metrics compressed: gross margin declined to 10.8% and adjusted EBITDA margin to 12.4%, reflecting higher subcontracting and rental costs, weather impacts, and increased corporate investment. Net income attributable to the company fell to $4.7 million, and diluted EPS was $0.26 versus $0.53 a year earlier.
Cardinal announced the acquisition of Allied Paving, an Atlanta-based contractor generating about $108 million in annual revenue at a 20.3% adjusted EBITDA margin. Total consideration is about $120 million (roughly $62 million cash and $58 million in Class A stock) at roughly 5.5x adjusted EBITDA, funded with cash on hand and stock subject to a six‑month lock-up. The company raised its 2026 revenue outlook to $880–$900 million and now targets full‑year adjusted EBITDA margin of 16–18%. Cash and cash equivalents grew to $339.1 million as of June 30, 2026, supported by strong financing inflows and an equity offering.