Public Sector Pension Investment Board Buys 29,356 Shares of Trane Technologies plc (NYSE:TT)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Trane Technologies plc by 104.4%, acquiring an additional 29,356 shares to reach a total of 57,462 shares valued at $19,360,000.
• Trane Technologies reported quarterly earnings of $3.88 per share, exceeding expectations of $3.79, while revenue totaled $5.75 billion, reflecting a 7.6% year-over-year increase.
• The company declared a quarterly dividend of $0.94 per share, with a dividend yield of 0.9% and an annualized dividend payout ratio of 29.82%.

Public Sector Pension Investment Board lifted its position in Trane Technologies plc (NYSE:TT - Free Report) by 104.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 57,462 shares of the company's stock after purchasing an additional 29,356 shares during the quarter. Public Sector Pension Investment Board's holdings in Trane Technologies were worth $19,360,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. WFA Asset Management Corp grew its holdings in Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Trane Technologies during the 1st quarter worth approximately $31,000. Finally, Bogart Wealth LLC raised its holdings in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock worth $31,000 after buying an additional 46 shares during the period. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird raised their price target 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 raised their target price on shares of Trane Technologies from $480.00 to $495.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. UBS Group raised their price target on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Wells Fargo & Company raised their price target on Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada lifted their target price on Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of "Hold" and a consensus price target of $458.60.

Trane Technologies Price Performance

NYSE TT traded down $3.65 during trading on Wednesday, hitting $435.30. 1,182,293 shares of the company's stock were exchanged, compared to its average volume of 1,352,713. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $96.86 billion, a PE ratio of 34.52, a P/E/G ratio of 2.73 and a beta of 1.09. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The stock's 50 day moving average price is $435.54 and its two-hundred day moving average price is $390.67.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.30 earnings per share. Research analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued 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 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.