Pentair (NYSE:PNR) manufactures pumps, filters, valves and thermal solutions for the water and electrical markets. The company contributed 84 basis points to the Fund’s return, as its stock jumped 26.0% from $56.07 to $70.62. Early in the year, investors cheered the company’s plan to separate its water and electrical segments into two standalone companies. Pentair also noted signs of improvement in its markets throughout the year, supporting sales momentum into 2018.
From Jerome Dodson (Trades, Portfolio)'s fourth-quarter 2017 Parnassus Fund shareholder letter.
