After Recent Divestments, We Think Pentair’s Remaining Water Portfolio Can Deliver Solid Returns
We maintain our $44 per share fair value estimate for narrow-moat Pentair after the company announced fourth-quarter revenue and earnings results that both slightly topped consensus estimates. We made some puts and takes in our valuation model, but our long-term outlook is largely the same, and we remain optimistic about the company’s prospects.Pentair’s core sales grew 6% in the fourth quarter, fueled by strong 13% year-over-year growth in the aquatic systems segment. Flow technologies revenue...
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