Caisse DE Depot ET Placement DU Quebec Boosts Stake in Trane Technologies plc $TT

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its investment in Trane Technologies plc by 5.8%, acquiring a total of 275,491 shares worth approximately $92.8 million.
• Trane Technologies reported a quarterly earnings per share of $3.88, exceeding analyst expectations, and had a net margin of 13.76% with a 7.6% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.94 per share, translating to an annualized yield of 0.9%.

Caisse DE Depot ET Placement DU Quebec grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 275,491 shares of the company's stock after buying an additional 15,216 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.12% of Trane Technologies worth $92,818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TT. WFA Asset Management Corp raised its holdings in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Trane Technologies in the fourth quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the first quarter worth $31,000. Finally, Bogart Wealth LLC increased its stake in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after acquiring an additional 46 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

TT opened at $419.7770 on Tuesday. The firm has a market capitalization of $93.40 billion, a PE ratio of 33.29, a PEG ratio of 2.64 and a beta of 1.09. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The firm's 50-day moving average price is $435.50 and its 200 day moving average price is $394.66. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. Trane Technologies's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.30 earnings per share. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is presently 29.82%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TT. Robert W. Baird increased their price objective on shares of Trane Technologies from $396.00 to $450.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Barclays lifted their price objective on shares of Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. HSBC cut shares of Trane Technologies from a "buy" rating to a "hold" rating and lifted their price objective for the company from $415.00 to $460.00 in a report on Thursday, July 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $458.60.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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