VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in StandardAero, Inc. $SARO

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of StandardAero, Inc. (NYSE:SARO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 54,200 shares of the company’s stock, valued at approximately $1,479,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Carlyle Group Inc. boosted its stake in StandardAero by 13.6% during the 2nd quarter. Carlyle Group Inc. now owns 152,673,891 shares of the company’s stock valued at $4,832,129,000 after purchasing an additional 18,321,061 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of StandardAero by 311.6% in 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 buying an additional 6,471,813 shares during the period. Norges Bank acquired a new stake in shares of StandardAero in the second quarter valued at $203,038,000. State Street Corp boosted its stake in StandardAero by 90.7% during the second quarter. State Street Corp now owns 6,047,097 shares of the company’s stock valued at $191,391,000 after buying an additional 2,875,579 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in StandardAero by 49.4% during the first quarter. Alliancebernstein L.P. now owns 4,552,851 shares of the company’s stock worth $121,288,000 after acquiring an additional 1,505,726 shares during the period.

Insiders Place Their Bets

In other StandardAero news, insider Alex Trapp sold 10,000 shares of StandardAero stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $29.21, for a total transaction of $292,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.

StandardAero Price Performance

SARO opened at $29.63 on Friday. The firm has a market capitalization of $9.91 billion, a P/E ratio of 53.87 and a beta of 1.04. The stock has a fifty day moving average of $27.19 and a 200-day moving average of $27.87. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.89. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month high of $31.97.

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

StandardAero declared that its board has authorized a stock buyback plan on Wednesday, December 10th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

SARO has been the subject of a number of research analyst reports. Zacks Research raised shares of StandardAero from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Sanford C. Bernstein reissued an “outperform” rating on shares of StandardAero in a research note on Monday, November 24th. Susquehanna initiated coverage on StandardAero in a research report on Wednesday, September 17th. They set a “positive” rating and a $34.00 target price on the stock. Truist Financial started coverage on StandardAero in a research report on Friday, October 10th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of StandardAero in a research note on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.43.

About StandardAero

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.