Allspring Global Investments Holdings LLC Buys 6,471,813 Shares of StandardAero, Inc. $SARO

Key Points

• Allspring Global Investments Holdings LLC increased its stake in StandardAero, Inc. by 311.6%, acquiring an additional 6,471,813 shares to total 8,548,613 shares, valued at approximately $261.8 million.
• StandardAero's recent quarterly earnings showed a net revenue of $1.53 billion, surpassing the consensus estimate while reporting EPS of $0.20, slightly below the expected $0.21.
• Several analysts recently revised their ratings for StandardAero, with a mix of "buy" and "hold" ratings, and the stock currently has an average target price of $34.42.

Allspring Global Investments Holdings LLC grew its stake in StandardAero, Inc. (NYSE:SARO - Free Report) by 311.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,548,613 shares of the company's stock after acquiring an additional 6,471,813 shares during the period. Allspring Global Investments Holdings LLC owned 2.56% of StandardAero worth $261,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Comerica Bank bought a new position in shares of StandardAero in the first quarter worth about $26,000. Corebridge Financial Inc. raised its stake in shares of StandardAero by 46.8% during the first quarter. Corebridge Financial Inc. now owns 1,079 shares of the company's stock worth $29,000 after buying an additional 344 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of StandardAero by 272.3% during the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after buying an additional 825 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of StandardAero by 798.1% during the second quarter. Parallel Advisors LLC now owns 1,383 shares of the company's stock worth $44,000 after buying an additional 1,229 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of StandardAero during the first quarter worth approximately $52,000.

StandardAero Stock Down 1.4%

Shares of NYSE SARO opened at $26.42 on Monday. The firm has a 50 day moving average price of $27.13 and a 200 day moving average price of $27.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.49 and a current ratio of 2.15. StandardAero, Inc. has a 52-week low of $21.31 and a 52-week high of $33.00. The stock has a market cap of $8.84 billion and a P/E ratio of 64.44.

StandardAero (NYSE:SARO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). StandardAero had a return on equity of 8.87% and a net margin of 2.37%.The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $0.02 EPS. The firm's revenue was up 13.5% on a year-over-year basis. StandardAero has set its FY 2025 guidance at EPS. Analysts expect that StandardAero, Inc. will post 0.29 EPS for the current year.

Insider Activity

In other news, insider Alex Trapp sold 4,035 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $28.00, for a total transaction of $112,980.00. Following the completion of the sale, the insider owned 10,000 shares of the company's stock, valued at $280,000. This represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 80,626 shares of company stock worth $2,261,951 over the last ninety days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SARO shares. Susquehanna started coverage on shares of StandardAero in a research note on Wednesday, September 17th. They set a "positive" rating and a $34.00 price target for the company. Barclays started coverage on shares of StandardAero in a research note on Friday, September 12th. They set an "equal weight" rating and a $32.00 price target for the company. Truist Financial started coverage on shares of StandardAero in a research note on Friday. They set a "buy" rating and a $35.00 price target for the company. Wall Street Zen downgraded shares of StandardAero from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of StandardAero in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $34.42.

StandardAero Company Profile

StandardAero, Inc provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally. It operates in two segments, Engine Services and Component Repair Services. The Engine Services segment provides a suite of aftermarket services, including maintenance, repair and overhaul, on-wing and field service support, asset management, and engineering and related solutions to customers in the commercial aerospace, military and helicopter, and business aviation end markets.

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