Trane Technologies Stock Rises 82% in a Year: Here's How

Trane Technologies plc’s TT stock has had an impressive run over the past year. TT shares have appreciated 82%, outperforming the 73% rally of the industry and the 14.3% growth of the Zacks S&P 500 composite.What’s Driving TT Stock?TraneTechnologies focuses on improving its business operating system, innovation and investments. TT’s strengths include differentiated customer-driven solutions and energy-efficient product installation. Supportive policies and regulations, primarily in the United States and Europe, bolster these aspects.Trane Technologies plc Price Trane Technologies plc price | Trane Technologies plc QuoteThe company reported better-than-expected earnings performance in the past four quarters, benefiting from a strong demand situation, especially in commercial HVAC globally, acquisitions, positive price realization, volume growth, and productivity. In the third quarter of 2024, TT’s revenues and adjusted EPS increased 12% and 13.3% yearly, respectively.Commitment to shareholder returns makes TT reliable for investors to compound wealth over the long term. In 2023, 2022, 2021 and 2020, the company repurchased shares worth $669.3 million, $1.2 billion, $1.1 billion and $250 million, respectively. It paid $683.7 million, $620 million, $561.1 million and $507.3 million in dividends in 2023, 2022, 2021 and 2020, respectively.TransUnion's current ratio (a measure of liquidity) at the end of the third quarter of 2024 was 1.22, higher than the preceding quarter's 1.17. A current ratio of more than 1 often indicates that the company will be easily paying off its short-term obligations.Zacks Rank and Other Key PicksTT carries a Zacks Rank #2 (Buy) at present.Some other top-ranked stocks in the broader Zacks Business Services sector are AppLovin APP & Climb Global Solutions, Inc. CLMB.AppLovin sports a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.APP has a long-term earnings growth expectation of 20%. It delivered a trailing four-quarter earnings surprise of 26.2%, on average.Climb Global Solutions flaunts a Zacks Rank of 1 at present. It has a long-term earnings growth expectation of 16%.CLMB delivered a trailing four-quarter earnings surprise of 51.1%, on average.Must-See: Solar Stocks Poised to SkyrocketThe solar industry stands to bounce back as tech companies and the economy transition away from fossil fuels to power the AI boom.Trillions of dollars will be invested in clean energy over the coming years – and analysts predict solar will account for 80% of the renewable energy expansion. This creates an outsized opportunity to profit in the near-term and for years to come. But you have to pick the right stocks to get into.Discover Zacks’ hottest solar stock recommendation FREE.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AppLovin Corporation (APP): Free Stock Analysis Report Trane Technologies plc (TT): Free Stock Analysis Report Climb Global Solutions, Inc. (CLMB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks