Envestnet Portfolio Solutions Inc. Sells 2,013 Shares of Trane Technologies plc $TT

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

Several other hedge funds have also made changes to their positions in TT. Vanguard Group Inc. lifted 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 acquiring an additional 335,634 shares during the period. State Street Corp lifted its position in Trane Technologies by 0.3% during the 2nd quarter. State Street Corp now owns 10,077,267 shares of the company’s stock valued at $4,407,904,000 after purchasing an additional 31,826 shares during the period. Geode Capital Management LLC increased its holdings in Trane Technologies by 1.1% in the second quarter. Geode Capital Management LLC now owns 4,973,217 shares of the company’s stock valued at $2,164,764,000 after purchasing an additional 56,293 shares during the last quarter. Norges Bank bought a new stake in Trane Technologies in the second quarter valued at approximately $1,356,065,000. Finally, Nordea Investment Management AB raised its position in shares of Trane Technologies by 2.4% during the third quarter. Nordea Investment Management AB now owns 2,513,508 shares of the company’s stock worth $1,051,049,000 after purchasing an additional 57,774 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

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

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $386.36 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $85.67 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.93 and a beta of 1.21. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The business’s fifty day simple moving average is $396.44 and its 200 day simple moving average is $415.74.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. Trane Technologies’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TT. UBS Group cut their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Morgan Stanley cut their target price on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. KeyCorp raised Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday. Finally, Wells Fargo & Company cut their price objective on shares of Trane Technologies from $415.00 to $375.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $479.73.

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.