Envestnet Portfolio Solutions Inc. Purchases 1,277 Shares of Trane Technologies plc (NYSE:TT)

Envestnet Portfolio Solutions Inc. grew its position in shares of Trane Technologies plc (NYSE:TT) by 10.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,371 shares of the company’s stock after acquiring an additional 1,277 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Trane Technologies were worth $4,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC lifted its position in Trane Technologies by 22.2% in the third quarter. Tidal Investments LLC now owns 15,827 shares of the company’s stock worth $6,152,000 after buying an additional 2,874 shares during the last quarter. Synovus Financial Corp lifted its position in Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company’s stock worth $3,431,000 after buying an additional 1,271 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Trane Technologies in the fourth quarter worth $468,000. HB Wealth Management LLC lifted its position in Trane Technologies by 14.3% in the fourth quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock worth $2,101,000 after buying an additional 711 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in Trane Technologies by 31.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock worth $10,733,000 after buying an additional 6,910 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

TT stock opened at $344.27 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The business has a 50-day moving average price of $363.30 and a 200 day moving average price of $380.04. The company has a market capitalization of $77.22 billion, a P/E ratio of 30.60, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.09%. Trane Technologies’s payout ratio is currently 33.42%.

Insider Activity

In related news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now owns 63,841 shares in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock worth $2,588,102 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Northcoast Research initiated coverage on Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. Melius lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price on the stock. in a research note on Tuesday, January 28th. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average target price of $413.69.

Trane Technologies 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.