StandardAero, Inc. (NYSE:SARO) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in StandardAero, Inc. by 8.3%, owning approximately $13.9 million worth of shares after purchasing an additional 40,138 shares in the first quarter.
• StandardAero's stock showed a 16.2% increase in revenue compared to the same quarter last year, with a reported earnings per share (EPS) of $0.19, exceeding estimates of $0.17.
• Equities analysts recently varied their outlook on StandardAero, with ratings ranging from a "strong buy" to a "hold," while the consensus target price is approximately $34.67.

TD Asset Management Inc grew its holdings in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 522,066 shares of the company's stock after purchasing an additional 40,138 shares during the period. TD Asset Management Inc owned approximately 0.16% of StandardAero worth $13,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP purchased a new position in StandardAero in the 4th quarter worth $183,924,000. Carlyle Group Inc. purchased a new position in shares of StandardAero during the 4th quarter valued at about $165,294,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of StandardAero during the 4th quarter valued at about $161,324,000. Price T Rowe Associates Inc. MD purchased a new position in shares of StandardAero during the 4th quarter valued at about $155,829,000. Finally, Vanguard Group Inc. purchased a new position in shares of StandardAero during the 4th quarter valued at about $147,628,000.

StandardAero Trading Down 2.3%

Shares of NYSE:SARO traded down $0.66 during trading on Friday, hitting $27.89. The company's stock had a trading volume of 1,620,823 shares, compared to its average volume of 1,688,888. The business has a 50 day moving average price of $29.85 and a two-hundred day moving average price of $27.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 2.00. StandardAero, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $34.38.

StandardAero (NYSE:SARO - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. The company's quarterly revenue was up 16.2% compared to the same quarter last year. On average, sell-side analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current fiscal year.

Insider Transactions at StandardAero

In other StandardAero news, major shareholder Private Ltd Gic sold 5,524,862 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $27.30, for a total value of $150,828,732.60. Following the completion of the transaction, the insider owned 35,292,362 shares in the company, valued at $963,481,482.60. This represents a 13.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. CIBC dropped their target price on StandardAero from $35.00 to $34.00 and set an "outperformer" rating on the stock in a research report on Tuesday, July 8th. Wall Street Zen cut StandardAero from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, UBS Group raised their target price on StandardAero from $25.00 to $30.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Four 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, the company has an average rating of "Moderate Buy" and a consensus price target of $34.67.

About StandardAero

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.