5 Best HVAC Stocks to Buy for AI Server Heat Mitigation

2. Trane Technologies plc (NYSE:TT)

Short Percentage of Shares Outstanding: 1.75%

On June 10, Trane Technologies plc (NYSE:TT) disclosed in a regulatory filing that its Board of Directors appointed Donald Simmons as Executive Vice President and Chief Operating Officer, effective July 1, 2026. Simmons has served as Group President, Americas, since January 2024 and previously held several senior leadership positions within the company, including Americas Segment Leader and President of Commercial HVAC Americas. The appointment reflects Trane’s continued focus on leadership development and operational execution as it advances its long-term growth strategy.

On May 14, JPMorgan raised its price target on Trane Technologies plc (NYSE:TT) to $475 from $460 while maintaining a Neutral rating on the shares. The firm updated its financial model following the company’s first-quarter earnings report, reflecting revised expectations for Trane’s operating performance and outlook.

Founded in 1885 and headquartered in Swords, Ireland, Trane Technologies plc (NYSE:TT) is a global climate innovator that designs high-efficiency HVAC and transport refrigeration solutions. It capitalizes on the AI boom by manufacturing massive chillers and liquid cooling infrastructure essential to dissipating the extreme heat generated by dense data center servers.

Trane Technologies’ leadership transition reinforces management continuity and positions the company to maintain strong operational execution across its global businesses. In addition, growing analyst confidence and the company’s exposure to the expanding demand for data center cooling infrastructure support its long-term growth potential as AI-related investments continue to accelerate.