NZS Capital LLC Sells 44,641 Shares of Trane Technologies plc $TT

NZS Capital LLC trimmed its holdings in Trane Technologies plc (NYSE:TT) by 25.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,122 shares of the company’s stock after selling 44,641 shares during the period. Trane Technologies makes up 1.7% of NZS Capital LLC’s investment portfolio, making the stock its 21st biggest holding. NZS Capital LLC owned approximately 0.06% of Trane Technologies worth $54,906,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies during the 2nd quarter valued at $26,000. Financial Consulate Inc. purchased a new position in Trane Technologies during the 3rd quarter valued at about $25,000. Hantz Financial Services Inc. increased its position in shares of Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the period. United Community Bank lifted its holdings in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after buying an additional 43 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC boosted its position in shares of Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after acquiring an additional 26 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 4.4%

TT opened at $445.75 on Wednesday. The business’s fifty day simple moving average is $420.23 and its 200 day simple moving average is $416.84. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $98.66 billion, a PE ratio of 34.34, a P/E/G ratio of 2.45 and a beta of 1.19.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.05. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.61 EPS. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s payout ratio is 28.97%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 822 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.57, for a total transaction of $380,232.54. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at $1,766,554.83. This represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 2,389 shares of Trane Technologies stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.70, for a total value of $1,105,390.30. Following the completion of the transaction, the chief financial officer owned 60,486 shares in the company, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Melius Research upgraded Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a research report on Wednesday, January 7th. Wells Fargo & Company lifted their price objective on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their target price on Trane Technologies from $434.00 to $460.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Finally, UBS Group lowered their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.