Burkehill Global Management LP Increases Stake in StandardAero, Inc. (NYSE:SARO)

Key Points

• Burkehill Global Management LP increased its holdings in StandardAero, Inc. by 75%, owning 1,750,000 shares valued at approximately $46.62 million, making it the firm's 7th largest investment.
• StandardAero reported earnings of $0.19 EPS in its most recent quarter, surpassing the consensus estimate of $0.17, despite revenues falling short of expectations.
• Insider selling occurred as major shareholder Private Ltd Gic sold over 5.5 million shares, reducing their stake by 13.54%, with the total proceeds amounting to approximately $150.83 million.

Burkehill Global Management LP grew its stake in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 75.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,750,000 shares of the company's stock after buying an additional 750,000 shares during the period. StandardAero makes up 3.5% of Burkehill Global Management LP's investment portfolio, making the stock its 7th biggest holding. Burkehill Global Management LP owned about 0.52% of StandardAero worth $46,620,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Virtu Financial LLC bought a new stake in StandardAero in the first quarter valued at about $342,000. Invesco Ltd. increased its stake in StandardAero by 4,035.1% in the first quarter. Invesco Ltd. now owns 2,222,551 shares of the company's stock valued at $59,209,000 after acquiring an additional 2,168,803 shares during the period. Swiss National Bank bought a new stake in StandardAero in the first quarter valued at about $5,943,000. Carlyle Group Inc. increased its stake in StandardAero by 1,912.5% in the first quarter. Carlyle Group Inc. now owns 134,352,830 shares of the company's stock valued at $3,579,159,000 after acquiring an additional 127,676,968 shares during the period. Finally, Deutsche Bank AG bought a new stake in StandardAero in the first quarter valued at about $14,732,000.

Insider Activity at StandardAero

In other news, major shareholder Private Ltd Gic sold 828,729 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $27.30, for a total transaction of $22,624,301.70. Following the sale, the insider directly owned 34,463,633 shares of the company's stock, valued at $940,857,180.90. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SARO. Wall Street Zen cut shares of StandardAero from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. UBS Group upped their price objective on shares of StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, CIBC decreased their price objective on shares of StandardAero from $35.00 to $34.00 and set an "outperformer" rating on the stock in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, StandardAero currently has a consensus rating of "Moderate Buy" and an average price target of $34.67.

StandardAero Price Performance

Shares of SARO traded down $0.37 during mid-day trading on Wednesday, hitting $28.30. 98,168 shares of the company traded hands, compared to its average volume of 2,332,908. StandardAero, Inc. has a one year low of $21.31 and a one year high of $34.38. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.00 and a quick ratio of 1.37. The business has a 50-day moving average of $29.73 and a 200 day moving average of $28.06.

StandardAero (NYSE:SARO - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.51 billion. StandardAero's quarterly revenue was up 16.2% compared to the same quarter last year. As a group, analysts expect that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

StandardAero 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.