Waterloo Capital L.P. Reduces Holdings in Trane Technologies plc (NYSE:TT)

Waterloo Capital L.P. lessened its holdings in Trane Technologies plc (NYSE:TT) by 7.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,768 shares of the company’s stock after selling 143 shares during the period. Waterloo Capital L.P.’s holdings in Trane Technologies were worth $653,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Trane Technologies during the 4th quarter valued at $1,117,816,000. Raymond James Financial Inc. purchased a new stake in shares of Trane Technologies in the fourth quarter valued at $611,322,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after acquiring an additional 350,277 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after purchasing an additional 293,916 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $98,560,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Down 3.9 %

NYSE:TT opened at $318.18 on Monday. The business’s 50-day moving average is $351.63 and its two-hundred day moving average is $379.00. The firm has a market capitalization of $71.36 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. Trane Technologies’s payout ratio is currently 33.42%.

Insider Activity

In related news, SVP Evan M. Turtz sold 318 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several recent analyst reports. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. UBS Group reduced their target price on Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Melius Research reissued a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $413.69.

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.