Waratah Capital Advisors Ltd. Lowers Position in Trane Technologies plc $TT

Waratah Capital Advisors Ltd. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 20.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,895 shares of the company’s stock after selling 2,010 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Trane Technologies were worth $3,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. NorthRock Partners LLC increased its holdings in Trane Technologies by 1.2% during the second quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after buying an additional 24 shares during the period. King Luther Capital Management Corp lifted its holdings in Trane Technologies by 1.3% during the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock worth $849,000 after buying an additional 24 shares during the period. Csenge Advisory Group boosted its position in Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock valued at $1,314,000 after acquiring an additional 25 shares in the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Trane Technologies by 0.7% in the 2nd quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock valued at $1,579,000 after acquiring an additional 25 shares during the period. Finally, CBIZ Investment Advisory Services LLC lifted its stake in shares of Trane Technologies by 23.4% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock worth $46,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the completion of the transaction, the chief executive officer owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $418.60 on Friday. 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 plc has a 12-month low of $298.15 and a 12-month high of $476.18. The firm has a 50 day moving average of $419.79 and a two-hundred day moving average of $425.30. The firm has a market capitalization of $92.82 billion, a PE ratio of 33.20, a P/E/G ratio of 2.66 and a beta of 1.16.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the prior year, the firm earned $3.37 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio (DPR) is currently 28.92%.

Wall Street Analyst Weigh In

TT has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on shares of Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $490.00 to $550.00 in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a report on Monday, October 6th. Citigroup increased their price objective on Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $472.07.

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.