Steamboat Capital Partners LLC Invests $242,000 in StandardAero, Inc. (NYSE:SARO)

Steamboat Capital Partners LLC purchased a new position in StandardAero, Inc. (NYSE:SARO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,788 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in StandardAero in the 4th quarter worth $183,924,000. Carlyle Group Inc. bought a new position in StandardAero in the 4th quarter worth $165,294,000. T. Rowe Price Investment Management Inc. bought a new position in StandardAero in the 4th quarter worth $161,324,000. Price T Rowe Associates Inc. MD bought a new position in StandardAero in the 4th quarter worth $155,829,000. Finally, Vanguard Group Inc. bought a new position in StandardAero in the 4th quarter worth $147,628,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SARO. UBS Group raised their target price on StandardAero from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Morgan Stanley decreased their target price on StandardAero from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, StandardAero presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.11.

Insider Activity

In related news, major shareholder Private Ltd Gic sold 6,629,834 shares of StandardAero stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $27.16, for a total value of $180,066,291.44. Following the completion of the transaction, the insider now owns 40,817,224 shares in the company, valued at approximately $1,108,595,803.84. This trade represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

StandardAero Stock Performance

Shares of StandardAero stock opened at $30.02 on Friday. The business has a 50-day moving average price of $26.87 and a 200-day moving average price of $26.80. StandardAero, Inc. has a twelve month low of $21.31 and a twelve month high of $34.38.

StandardAero (NYSE:SARO) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, beating 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 business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Sell-side analysts expect 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.