StandardAero, Inc. (NYSE:SARO) Shares Purchased by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in StandardAero by 158.5%, now holding 39,257 shares valued at over $1 million.
• Analysts have mixed views on StandardAero, with Wall Street Zen downgrading the stock to a "hold" while UBS Group raised its price target to $30.00.
• StandardAero reported a 16.2% increase in revenue compared to the same quarter last year, with an EPS of $0.19, slightly above analyst expectations.

Victory Capital Management Inc. grew its holdings in shares of StandardAero, Inc. (NYSE:SARO - Free Report) by 158.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,257 shares of the company's stock after purchasing an additional 24,071 shares during the quarter. Victory Capital Management Inc.'s holdings in StandardAero were worth $1,046,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of StandardAero by 272.3% in the 1st quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock worth $30,000 after acquiring an additional 825 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of StandardAero by 1.3% in the first quarter. Cerity Partners LLC now owns 69,342 shares of the company's stock valued at $1,847,000 after purchasing an additional 863 shares during the period. Bessemer Group Inc. acquired a new stake in StandardAero during the fourth quarter worth about $28,000. KBC Group NV purchased a new position in StandardAero during the first quarter worth about $52,000. Finally, MetLife Investment Management LLC purchased a new position in StandardAero during the fourth quarter worth about $54,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SARO. CIBC dropped their price target on shares of StandardAero from $35.00 to $34.00 and set an "outperformer" rating for the company in a research note on Tuesday, July 8th. Wall Street Zen cut StandardAero from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, UBS Group raised their target price on StandardAero from $25.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, StandardAero presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.67.

Insider Buying and Selling

In other news, major shareholder Private Ltd Gic sold 828,729 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $27.30, for a total value of $22,624,301.70. Following the completion of the sale, the insider directly owned 34,463,633 shares of the company's stock, valued at $940,857,180.90. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by insiders.

StandardAero Stock Performance

Shares of NYSE SARO traded down $0.66 during midday trading on Friday, reaching $27.89. 1,620,823 shares of the company were exchanged, compared to its average volume of 1,688,888. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $34.38. The stock has a fifty day simple moving average of $29.85 and a 200 day simple moving average of $27.91. 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 (NYSE:SARO - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.51 billion. The company's quarterly revenue was up 16.2% on a year-over-year basis. As a group, research analysts expect that StandardAero, Inc. will post 0.29 earnings per share 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.