Norges Bank Takes Position in StandardAero, Inc. $SARO

Key Points

• Norges Bank took a new position in StandardAero, buying 7.59 million shares valued at about $217.7 million and now owning roughly 2.27% of the company.
• Several insiders sold shares recently, including the CFO and COO, with the company noting the sales were made to cover tax withholding tied to vesting equity awards.
• StandardAero posted better-than-expected quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $34.25.

Norges Bank acquired a new position in shares of StandardAero, Inc. (NYSE:SARO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,589,073 shares of the company's stock, valued at approximately $217,655,000. Norges Bank owned about 2.27% of StandardAero as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Cerity Partners LLC increased its holdings in StandardAero by 0.6% during the second quarter. Cerity Partners LLC now owns 69,758 shares of the company's stock worth $2,208,000 after buying an additional 416 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in StandardAero by 20.5% during the third quarter. PNC Financial Services Group Inc. now owns 4,411 shares of the company's stock worth $120,000 after buying an additional 751 shares during the last quarter. Comerica Bank purchased a new stake in StandardAero during the first quarter worth about $26,000. State of Wyoming purchased a new stake in StandardAero during the third quarter worth about $27,000. Finally, New York State Common Retirement Fund increased its holdings in StandardAero by 1.2% during the third quarter. New York State Common Retirement Fund now owns 102,113 shares of the company's stock worth $2,787,000 after buying an additional 1,256 shares during the last quarter.

Insider Buying and Selling

In other news, CFO Daniel Satterfield sold 2,306 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $27.36, for a total value of $63,092.16. Following the completion of the transaction, the chief financial officer directly owned 6,232 shares in the company, valued at approximately $170,507.52. This trade represents a 27.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kimberly Ernzen sold 2,516 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $27.36, for a total transaction of $68,837.76. Following the completion of the transaction, the chief operating officer owned 6,632 shares of the company's stock, valued at $181,451.52. This trade represents a 27.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 19,337 shares of company stock valued at $529,060 in the last three months.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SARO. Zacks Research downgraded shares of StandardAero from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 12th. Royal Bank Of Canada decreased their price objective on shares of StandardAero from $37.00 to $34.00 and set an "outperform" rating for the company in a report on Friday, May 1st. BTIG Research started coverage on shares of StandardAero in a research note on Thursday, April 2nd. They issued a "buy" rating and a $35.00 target price for the company. Susquehanna reduced their target price on shares of StandardAero from $40.00 to $37.00 and set a "positive" rating for the company in a research note on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $39.00 target price on shares of StandardAero in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $34.25.

StandardAero Price Performance

SARO opened at $25.17 on Wednesday. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 28.60 and a beta of 0.97. The company has a quick ratio of 1.59, a current ratio of 2.12 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $26.17 and a 200-day moving average price of $28.02. StandardAero, Inc. has a twelve month low of $23.83 and a twelve month high of $34.48.

StandardAero (NYSE:SARO - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. StandardAero had a net margin of 4.71% and a return on equity of 12.36%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $0.19 earnings per share. StandardAero's revenue was up 13.3% compared to the same quarter last year. StandardAero has set its FY 2026 guidance at 1.400-1.500 EPS. Equities analysts expect that StandardAero, Inc. will post 1.42 EPS for the current year.

StandardAero Company Profile

StandardAero is a global aerospace maintenance, repair and overhaul (MRO) provider specializing in gas turbine engines, auxiliary power units (APUs), airframe components and oil & gas rotating equipment. The company offers a full suite of technical services including engine repair and overhaul, component repair, accessory maintenance, parts manufacturing and on-site field support. Its customer base spans commercial airlines, business and general aviation operators, regional carriers, original equipment manufacturers (OEMs) and defense organizations.

With roots dating back to 1911, StandardAero has grown through strategic acquisitions and organic expansion to become one of the largest independent MRO providers in the industry.

Want to see what other hedge funds are holding SARO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for StandardAero, Inc. (NYSE:SARO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.