Mn Services Vermogensbeheer B.V. Has $29.60 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Mn Services Vermogensbeheer B.V. reduced its stake in Trane Technologies plc (NYSE:TT) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,973 shares of the company’s stock after selling 2,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Trane Technologies were worth $29,595,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TT. Norges Bank acquired a new position in Trane Technologies in the 4th quarter valued at $655,804,000. Swedbank AB acquired a new position in shares of Trane Technologies in the first quarter valued at about $206,211,000. TD Asset Management Inc increased its position in Trane Technologies by 719.8% during the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after acquiring an additional 659,299 shares during the period. Putnam Investments LLC boosted its holdings in Trane Technologies by 27,824.4% in the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after purchasing an additional 570,679 shares during the period. Finally, Kodai Capital Management LP acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $77,615,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the sale, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. Insiders have sold a total of 44,243 shares of company stock worth $14,216,550 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Trane Technologies stock traded up $2.20 during mid-day trading on Friday, reaching $352.91. The company had a trading volume of 871,002 shares, compared to its average volume of 1,121,324. The business has a fifty day simple moving average of $335.48 and a 200 day simple moving average of $314.52. The company has a market cap of $79.88 billion, a P/E ratio of 37.70, a P/E/G ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $355.02. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the business posted $2.68 EPS. Trane Technologies’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts predict that Trane Technologies plc will post 10.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Mizuho boosted their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price target on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup increased their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Barclays boosted their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $323.29.

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.