Previously announced plan creates separate publicly traded company, nVent, which will begin trading on NYSE May 1.
Latest In Pentair
Year-to-date sales down 1.7 percent year-over-year.
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Separation expected to occur through a tax-free spin-off.
Profit decreases 18.2 percent for the quarter.
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Year-to-date sales up 11.3 percent.
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Sale narrows company's focus to three segments.
Fourth quarter sales decreased 2.3 percent year-over-year.
While capacity is high, Pentair will "remain disciplined" about finding deals that make sense.
