Nelson Peltz Poised To Win Seat On Pentair plc. (PNR)’s Board

Jay Petschek and Steven Major are also optimistic about the prospects of Pentair plc. Ordinary Share (NYSE:PNR), having increased their investment in the company by 8% during the second quarter. Their fund, Corsair Capital Management, reported ownership of 255,014 shares valued at $17.5 million in its latest 13F filing. Larry Robbins, on the other hand, has chosen to limit his exposure to the stock, reducing his stake by 18% during the same period of time. His fund, Glenview Capital, now holds some 5.84 million shares worth around $401 million.

Pentair plc. Ordinary Share (NYSE:PNR) is a producer of pipes, pumps, and valves for the energy, agricultural, and infrastructure sectors, and is based in the United Kingdom. So far this year, the company’s stock has fallen by 19% to $54.30 per share, giving the company a market cap of $9.58 billion. Second quarter revenues for Pentair declined by roughly 9% year-over-year to $1.66 billion, while earnings per share came in at $0.81. Analysts estimate revenues of $1.59 billion and earnings of $0.96 per share for the current quarter and have set a mean price target of $64.73 per share on the stock.

Unlike the usual approach of breaking companies up or spinning-off divisions of a company, Trian Partners has convinced the management of Pentair plc. Ordinary Share (NYSE:PNR) to go on a shopping spree to enhance shareholder value. In August, the company announced the acquisition of Erico Global, a manufacturer of fastening products, for $1.8 billion in cash. Pentair hopes the deal, set to be completed by the end of the year, will add some $0.40 to its 2016 earnings per share.

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