Envestnet Portfolio Solutions Inc. Lowers Stock Position in Trane Technologies plc $TT

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 16.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,039 shares of the company’s stock after selling 2,013 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Trane Technologies were worth $4,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Trane Technologies by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 19,792,410 shares of the company’s stock worth $8,657,398,000 after purchasing an additional 335,634 shares during the last quarter. State Street Corp lifted its position in Trane Technologies by 0.3% in the second quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after buying an additional 31,826 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Trane Technologies by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock worth $2,164,764,000 after purchasing an additional 56,293 shares during the period. Norges Bank purchased a new position in shares of Trane Technologies during the second quarter worth $1,356,065,000. Finally, Nordea Investment Management AB grew its position in Trane Technologies by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock valued at $1,051,049,000 after acquiring an additional 57,774 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at approximately $3,145,120. This trade represents a 7.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TT shares. Royal Bank Of Canada raised their target price on shares of Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Oppenheimer raised Trane Technologies from a “market perform” rating to an “outperform” rating and set a $460.00 price target on the stock in a research report on Tuesday, January 20th. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, UBS Group decreased their price target on Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies has a consensus rating of “Moderate Buy” and an average price target of $479.73.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $386.36 on Monday. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a market capitalization of $85.67 billion, a P/E ratio of 29.72, a PEG ratio of 1.93 and a beta of 1.21. The firm’s 50 day moving average is $396.44 and its two-hundred day moving average is $415.74. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the business earned $3.37 earnings per share. 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. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

About Trane Technologies

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.