Varenne Capital Partners Invests $9.95 Million in Trane Technologies plc (NYSE:TT)

Varenne Capital Partners bought a new position in shares of Trane Technologies plc (NYSE:TT) during the first quarter, Holdings Channel reports. The fund bought 29,526 shares of the company’s stock, valued at approximately $9,948,000. Trane Technologies accounts for 3.6% of Varenne Capital Partners’ investment portfolio, making the stock its 10th biggest position.

Several other large investors have also recently bought and sold shares of the business. Csenge Advisory Group raised its position in Trane Technologies by 0.6% during the first quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock valued at $1,314,000 after buying an additional 25 shares during the period. Fiera Capital Corp grew its stake in Trane Technologies by 1.4% in the first quarter. Fiera Capital Corp now owns 1,930 shares of the company’s stock valued at $650,000 after purchasing an additional 27 shares in the last quarter. Bingham Private Wealth LLC grew its stake in Trane Technologies by 3.2% in the first quarter. Bingham Private Wealth LLC now owns 944 shares of the company’s stock valued at $318,000 after purchasing an additional 29 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in Trane Technologies by 46.2% in the first quarter. Tradewinds Capital Management LLC now owns 95 shares of the company’s stock valued at $32,000 after purchasing an additional 30 shares in the last quarter. Finally, Smith Group Asset Management LLC grew its stake in Trane Technologies by 1.2% in the first quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company’s stock valued at $879,000 after purchasing an additional 30 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $435.30 on Thursday. The business has a 50 day moving average price of $435.54 and a 200 day moving average price of $390.67. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a market cap of $96.86 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 2.73 and a beta of 1.09.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping 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 the consensus estimate of $5.77 billion. During the same quarter last year, the company earned $3.30 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is currently 29.82%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TT. Royal Bank Of Canada boosted their target price on Trane Technologies from $463.00 to $467.00 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Citigroup boosted their target price on Trane Technologies from $445.00 to $502.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Morgan Stanley upped their price target on Trane Technologies from $445.00 to $520.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price target for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $458.60.

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.