Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Pentair to Buy Up to $1 Billion in Stock and Plans Ireland Move

Don't Miss Out —
Follow us on:

Dec. 10 (Bloomberg) -- Pentair Ltd., a provider of water and fluid filtration systems, plans to buy as much as $1 billion of its stock through 2016 and move its headquarters to Ireland from Switzerland.

The buyback will leave Pentair with another $2 billion in cash and the ability to finance investment elsewhere or expand the share repurchase program, Chief Executive Officer Randall Hogan said in a statement today. Pentair also reiterated its per-share profit goal of $5 in 2015. That compares with adjusted earnings of $4.83, the average of 13 analysts’ estimates compiled by Bloomberg.

“This reaffirms management’s confidence in its free cash flow,” R. Scott Graham, an analyst with Jefferies Group LLC, wrote in a note to clients. He rates the stock a buy.

Pentair bought Tyco International Ltd.’s flow-control division last year, assuming its Schaffhausen, Switzerland, domicile. The company cited tax advantages and a “well-developed legal and regulatory system” as reasons for the board’s decision to move to Ireland. Shareholder approval is still required.

Pentair rose 1.1 percent to $72.02 at 11:05 a.m. in New York, a record high. They have gained 46 percent this year.

Pentair plans to hold its 2014 financial outlook meeting for investors on Dec. 17.

To contact the reporter on this story: Rachel Layne in Boston at

To contact the editor responsible for this story: Randall Hackley at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.