Envestnet Asset Management Inc. Takes $639,000 Position in StandardAero, Inc. $SARO

Envestnet Asset Management Inc. bought a new stake in shares of StandardAero, Inc. (NYSE:SARO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,204 shares of the company’s stock, valued at approximately $639,000.

Several other institutional investors have also bought and sold shares of SARO. Carlyle Group Inc. boosted its holdings in StandardAero by 1,912.5% during the 1st quarter. Carlyle Group Inc. now owns 134,352,830 shares of the company’s stock worth $3,579,159,000 after acquiring an additional 127,676,968 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of StandardAero by 311.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 8,548,613 shares of the company’s stock valued at $261,759,000 after purchasing an additional 6,471,813 shares in the last quarter. Vanguard Group Inc. boosted its holdings in StandardAero by 53.2% during the first quarter. Vanguard Group Inc. now owns 9,133,766 shares of the company’s stock worth $243,324,000 after purchasing an additional 3,171,404 shares during the last quarter. Invesco Ltd. boosted its holdings in StandardAero by 4,035.1% during the first quarter. Invesco Ltd. now owns 2,222,551 shares of the company’s stock worth $59,209,000 after purchasing an additional 2,168,803 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in StandardAero by 29.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,418,195 shares of the company’s stock worth $224,261,000 after purchasing an additional 1,902,687 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Susquehanna began coverage on StandardAero in a research note on Wednesday, September 17th. They issued a “positive” rating and a $34.00 target price on the stock. Wall Street Zen lowered StandardAero from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Bank of America reduced their price objective on StandardAero from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 14th. Truist Financial initiated coverage on StandardAero in a research report on Friday, October 10th. They set a “buy” rating and a $35.00 target price for the company. Finally, Barclays initiated coverage on shares of StandardAero in a report on Friday, September 12th. They issued an “equal weight” rating and a $32.00 price target on the stock. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.43.

Insider Buying and Selling at StandardAero

In other news, insider Alex Trapp sold 73,718 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $28.06, for a total value of $2,068,527.08. Following the sale, the insider owned 16,908 shares of the company’s stock, valued at $474,438.48. The trade was a 81.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 90,626 shares of company stock valued at $2,554,051 in the last three months.

StandardAero Stock Performance

Shares of SARO opened at $24.73 on Monday. StandardAero, Inc. has a 1 year low of $21.31 and a 1 year high of $31.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.18 and a quick ratio of 1.48. The stock’s fifty day moving average price is $27.15 and its two-hundred day moving average price is $28.27. The firm has a market cap of $8.27 billion and a PE ratio of 44.96.

StandardAero (NYSE:SARO) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. StandardAero had a return on equity of 9.63% and a net margin of 3.15%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company earned $0.06 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts forecast that StandardAero, Inc. will post 0.29 EPS for the current year.

StandardAero Company 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.