Nuveen Asset Management LLC Makes New $2.69 Million Investment in StandardAero, Inc. (NYSE:SARO)

Nuveen Asset Management LLC purchased a new position in shares of StandardAero, Inc. (NYSE:SARO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 108,504 shares of the company’s stock, valued at approximately $2,687,000.

Several other hedge funds also recently modified their holdings of SARO. Bessemer Group Inc. bought a new position in StandardAero during the fourth quarter worth $28,000. R Squared Ltd bought a new stake in StandardAero in the 4th quarter valued at $39,000. MetLife Investment Management LLC acquired a new stake in StandardAero in the 4th quarter worth $54,000. PNC Financial Services Group Inc. acquired a new stake in StandardAero in the 4th quarter worth $62,000. Finally, Sterling Capital Management LLC acquired a new stake in StandardAero in the 4th quarter worth $78,000.

Insiders Place Their Bets

In other news, major shareholder Private Ltd Gic sold 5,524,862 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $27.30, for a total value of $150,828,732.60. Following the sale, the insider now directly owns 35,292,362 shares of the company’s stock, valued at approximately $963,481,482.60. This represents a 13.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 12,983,425 shares of company stock valued at $353,519,326 over the last three months. Insiders own 1.90% of the company’s stock.

StandardAero Stock Up 0.9%

SARO stock opened at $29.60 on Tuesday. The business has a 50 day moving average of $26.89 and a 200-day moving average of $26.77. StandardAero, Inc. has a 12-month low of $21.31 and a 12-month high of $34.38.

StandardAero (NYSE:SARO) last issued its earnings results on Monday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.51 billion. The business’s revenue was up 16.2% compared to the same quarter last year. As a group, analysts expect that StandardAero, Inc. will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SARO shares. Morgan Stanley cut their price objective on shares of StandardAero from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Wall Street Zen raised StandardAero from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Finally, UBS Group raised their price objective on StandardAero from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.11.

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.