Pentair plc (PNR - Free Report) will spin off its electrical unit, which manufactures enclosures and other products for electrical systems. Instead, the company wants to focus on core water treatment business, which makes treatment and processing systems. The separation will happen in the second quarter of 2018 and is expected to occur through a tax-free spin-off of Electrical by Pentair to its shareholders. Following the news, Pentair’s shares gained 2.48%.
Both the businesses will trade as two independent, publicly-traded companies. The companies will boast of market-leading positions in their respective industries through renowned brands, attractive margin profiles, strong free cash flow generation and compelling growth opportunities.
The Water business, which generated approximately $2.8 billion in sales in 2016, will continue under the Pentair name. The newly formed leading global water company will be focused on smart, sustainable water and fluid processing applications. It will design, manufacture and deliver innovative solutions to residential, commercial and industrial customers. Its main business groups will include Filtration & Process, Flow Technologies and Aquatic & Environmental Systems.
Meanwhile, the electrical business generated approximately $2.1 billion in sales in 2016. It will be turned into a high-performance electrical company focused on improving utilization, lowering costs and maximizing customer uptime. Its industrial enclosures, fastening systems and thermal management technologies help protect sensitive equipment, buildings and critical processes and ensure safety. Strategic business groups include Enclosures, Thermal Management and Electrical & Fastening Solutions. The company will be named at a later date.
Pentair PLC. Price
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Pentair plc (PNR - Free Report) will spin off its electrical unit, which manufactures enclosures and other products for electrical systems. Instead, the company wants to focus on core water treatment business, which makes treatment and processing systems. The separation will happen in the second quarter of 2018 and is expected to occur through a tax-free spin-off of Electrical by Pentair to its shareholders. Following the news, Pentair’s shares gained 2.48%.
Both the businesses will trade as two independent, publicly-traded companies. The companies will boast of market-leading positions in their respective industries through renowned brands, attractive margin profiles, strong free cash flow generation and compelling growth opportunities.
The Water business, which generated approximately $2.8 billion in sales in 2016, will continue under the Pentair name. The newly formed leading global water company will be focused on smart, sustainable water and fluid processing applications. It will design, manufacture and deliver innovative solutions to residential, commercial and industrial customers. Its main business groups will include Filtration & Process, Flow Technologies and Aquatic & Environmental Systems.
Meanwhile, the electrical business generated approximately $2.1 billion in sales in 2016. It will be turned into a high-performance electrical company focused on improving utilization, lowering costs and maximizing customer uptime. Its industrial enclosures, fastening systems and thermal management technologies help protect sensitive equipment, buildings and critical processes and ensure safety. Strategic business groups include Enclosures, Thermal Management and Electrical & Fastening Solutions. The company will be named at a later date.
Pentair PLC. Price
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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