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

Several other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of StandardAero by 272.3% in the first quarter. GAMMA Investing LLC now owns 1,128 shares of the company's stock valued at $30,000 after purchasing an additional 825 shares during the period. Bessemer Group Inc. acquired a new stake in shares of StandardAero in the fourth quarter valued at about $28,000. KBC Group NV acquired a new stake in shares of StandardAero in the first quarter valued at about $52,000. MetLife Investment Management LLC acquired a new stake in shares of StandardAero in the fourth quarter valued at about $54,000. Finally, Sterling Capital Management LLC acquired a new stake in shares of StandardAero in the fourth quarter valued at about $78,000.

Analyst Upgrades and Downgrades

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

Insider Activity

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

StandardAero Price Performance

SARO stock traded down $0.27 during trading on Tuesday, reaching $28.13. 612,909 shares of the stock were exchanged, compared to its average volume of 2,373,149. 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 price of $29.86 and a 200-day moving average price of $27.97. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year 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 analysts' expectations of $1.51 billion. The firm's revenue was up 16.2% compared to the same quarter last year. On average, sell-side analysts expect that StandardAero, Inc. will post 0.29 earnings per share for the current 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.