Canada Pension Plan Investment Board Increases Stock Holdings in Trane Technologies plc $TT

Key Points

• The Canada Pension Plan Investment Board has increased its stake in Trane Technologies plc by 42.9%, owning approximately 339,610 shares valued at $114.4 million.
• Trane Technologies reported earnings of $3.88 per share for the last quarter, surpassing analysts' expectations of $3.79, with a revenue of $5.75 billion.
• The company recently announced a quarterly dividend of $0.94 per share, reflecting a dividend yield of 0.9% and a payout ratio of 29.82%.

Canada Pension Plan Investment Board raised its position in Trane Technologies plc (NYSE:TT - Free Report) by 42.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,610 shares of the company's stock after acquiring an additional 101,962 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.15% of Trane Technologies worth $114,421,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WFA Asset Management Corp raised its position in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies during the fourth quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the first quarter worth about $31,000. Finally, Bogart Wealth LLC grew its position in shares of Trane Technologies by 97.9% during the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TT shares. Wells Fargo & Company boosted their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. UBS Group boosted their price objective on Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $415.00 to $460.00 in a research report on Thursday, July 31st. Hsbc Global Res downgraded Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group upped their price target on 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Stock Performance

NYSE TT traded down $2.91 on Wednesday, reaching $408.02. The stock had a trading volume of 1,664,495 shares, compared to its average volume of 1,445,514. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The business's 50-day moving average price is $435.12 and its 200 day moving average price is $396.83. The stock has a market cap of $90.79 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10.

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

Trane Technologies Announces Dividend

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

Trane Technologies Company Profile

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.