StandardAero, Inc. $SARO Shares Acquired by Parnassus Investments LLC

Parnassus Investments LLC lifted its holdings in shares of StandardAero, Inc. (NYSE:SARO) by 120.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,139,581 shares of the company’s stock after purchasing an additional 623,652 shares during the quarter. Parnassus Investments LLC’s holdings in StandardAero were worth $31,099,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SARO. Comerica Bank purchased a new position in StandardAero in the 1st quarter valued at approximately $26,000. First Horizon Advisors Inc. raised its position in StandardAero by 100.4% during the second quarter. First Horizon Advisors Inc. now owns 1,016 shares of the company’s stock worth $32,000 after acquiring an additional 509 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of StandardAero by 798.1% in the second quarter. Parallel Advisors LLC now owns 1,383 shares of the company’s stock valued at $44,000 after purchasing an additional 1,229 shares in the last quarter. KBC Group NV grew its position in shares of StandardAero by 32.2% in the second quarter. KBC Group NV now owns 2,605 shares of the company’s stock valued at $82,000 after purchasing an additional 635 shares during the last quarter. Finally, CWM LLC grew its position in shares of StandardAero by 46.7% in the third quarter. CWM LLC now owns 3,234 shares of the company’s stock valued at $88,000 after purchasing an additional 1,029 shares during the last quarter.

Wall Street Analysts Forecast Growth

SARO has been the subject of several recent analyst reports. Zacks Research raised shares of StandardAero from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of StandardAero in a research report on Monday, December 22nd. Barclays began coverage on StandardAero in a research report on Friday, September 12th. They issued an “equal weight” rating and a $32.00 target price for the company. Bank of America reduced their price target on shares of StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Finally, Wall Street Zen lowered shares of StandardAero from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.43.

Insider Activity

In other StandardAero news, CEO Russell Wayne Ford sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $30.24, for a total value of $1,209,600.00. Following the completion of the transaction, the chief executive officer owned 886,955 shares of the company’s stock, valued at $26,821,519.20. This represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alex Trapp sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $29.21, for a total value of $292,100.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 90,000 shares of company stock worth $2,708,900 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

StandardAero Price Performance

Shares of NYSE:SARO opened at $30.78 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $27.38 and a 200 day moving average price of $27.89. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 55.96 and a beta of 1.04. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $31.97.

StandardAero (NYSE:SARO) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. StandardAero had a net margin of 3.15% and a return on equity of 9.63%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company posted $0.06 earnings per share. StandardAero’s quarterly revenue was up 20.4% on a year-over-year basis. Research analysts predict that StandardAero, Inc. will post 0.29 earnings per share for the current year.

StandardAero declared that its board has initiated a stock repurchase program on Wednesday, December 10th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.