Nelson Peltz Pinpoints Pentair As Next Activist Target

Activist investor Nelson Peltz has found a new target: Pentair.

An SEC filing made public Tuesday reveals that Peltz’s Trian Fund Management has built up a 7.24% stake in the pump and valve maker. The fund has purchased more than 13 million of the company’s shares.

A representative from Trian Fund Management declined to comment but pointed to the “Purpose of Transaction” section of the documentation filed with the SEC.

Nelson Peltz believes Pentair's shares are undervalued

The section reveals that Trian has met and engaged in discussions with members of Pentair’s senior management team, including its CEO, Randall Hogan, and CFO, John Stauch. The fund believes Pentair’s shares are undervalued...