"27 Capricorn 34" means 27 degrees and 34 minutes of Capricorn. It's the point in the sky that marks the position of Pluto on the 4th of July 1776.
Pluto hits that point in the sky three times: one direct, one retrograde, and then one direct again. It's the final direct transit to that point in the sky that marks the most important transit.
Thank you for your explanation. The only astrology I know anything about is jyotish which is quite overlapping.