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Trane Technologies (TT) Gains 12% in a Month: Here's How
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Trane Technologiesplc’s (TT - Free Report) stock has had an impressive run over the past month. TT shares have appreciated 11.9%, outperforming the 4.6% rally of the industry it belongs to.
Let’s delve into the factors that have contributed to the company’s outperformance.
Consecutive Earnings & Revenues Beat
Trane Technologies reported better-than-expected earnings and revenue performance in the past four quarters. The top line benefited from a strong demand situation, especially in commercial HVAC globally. The bottom line was aided by strong positive price realization, volume growth and productivity.
The company expects revenues to increase 9-10% on a reported basis and 7-8% on an organic basis compared with the prior expectation of a 7-9% increase on a reported basis and 6-8% on an organic basis.
Adjusted EPS is expected to be between $8.3 and $8.5 compared with the previously expected range of $8.2-$8.5.
Consistent Dividend Payer
Trane Technologies has a consistent record of rewarding its shareholders through dividend payments and share repurchases. In 2022, 2021, 2020 and 2019, the company repurchased shares worth $1.2 billion, $1.1 billion, $250 million and $750.1 million, respectively.
It paid $620 million, $561.1 million, $507.3 million and $510.1 million in dividends in 2022, 2021, 2020 and 2019, respectively. Such moves indicate its commitment to boosting shareholders’ value, underlining its confidence in its business.
Zacks Rank and Other Stocks to Consider
Trane Technologies currently carries a Zacks Rank #2 (Buy).
Investors interested in the Zacks Business Services sector can also consider the following top-ranked stocks:
The company has an impressive earnings surprise history, beating the consensus mark in three of the trailing four quarters and missing once, the average surprise being 9.6%.
Green Dot (GDOT - Free Report) : GDOT currently carries a Zacks Rank #2 and has a VGM Score of A.
The company has an impressive earnings surprise history, beating the Zacks Consensus Estimate in all the trailing four quarters, with an average surprise of 37.3%.
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Trane Technologies (TT) Gains 12% in a Month: Here's How
Trane Technologiesplc’s (TT - Free Report) stock has had an impressive run over the past month. TT shares have appreciated 11.9%, outperforming the 4.6% rally of the industry it belongs to.
Let’s delve into the factors that have contributed to the company’s outperformance.
Consecutive Earnings & Revenues Beat
Trane Technologies reported better-than-expected earnings and revenue performance in the past four quarters. The top line benefited from a strong demand situation, especially in commercial HVAC globally. The bottom line was aided by strong positive price realization, volume growth and productivity.
Trane Technologies plc Price
Trane Technologies plc price | Trane Technologies plc Quote
Raised 2023 Guidance
The company expects revenues to increase 9-10% on a reported basis and 7-8% on an organic basis compared with the prior expectation of a 7-9% increase on a reported basis and 6-8% on an organic basis.
Adjusted EPS is expected to be between $8.3 and $8.5 compared with the previously expected range of $8.2-$8.5.
Consistent Dividend Payer
Trane Technologies has a consistent record of rewarding its shareholders through dividend payments and share repurchases. In 2022, 2021, 2020 and 2019, the company repurchased shares worth $1.2 billion, $1.1 billion, $250 million and $750.1 million, respectively.
It paid $620 million, $561.1 million, $507.3 million and $510.1 million in dividends in 2022, 2021, 2020 and 2019, respectively. Such moves indicate its commitment to boosting shareholders’ value, underlining its confidence in its business.
Zacks Rank and Other Stocks to Consider
Trane Technologies currently carries a Zacks Rank #2 (Buy).
Investors interested in the Zacks Business Services sector can also consider the following top-ranked stocks:
Maximus (MMS - Free Report) : MMS carries a Zacks Rank of 2 at present and has a VGM Score of A. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company has an impressive earnings surprise history, beating the consensus mark in three of the trailing four quarters and missing once, the average surprise being 9.6%.
Green Dot (GDOT - Free Report) : GDOT currently carries a Zacks Rank #2 and has a VGM Score of A.
The company has an impressive earnings surprise history, beating the Zacks Consensus Estimate in all the trailing four quarters, with an average surprise of 37.3%.