Pentair's three core business segments all contributed to a strong third quarter as sales and adjusted earnings per share both beat analysts' predictions.

Overall sales were $711 million for the quarter, up 3.5 percent. Core sales — which exclude currency translation, acquisitions and divestitures — grew 6 percent. The company exceeded analysts' sales expectations and its own sales guidance for the quarter after underwhelming on sales expectations in the second quarter.

"Pentair delivered another strong operating quarter consistent with expectations, led by 6 percent core growth and double-digit adjusted EPS growth," said John Stauch, Pentair president and chief executive, in a statement. "All three of our segments contributed to the strong top line performance."

The pump-and-filtration equipment maker, based in England but managed from Golden Valley, earned $110.1 million, or 63 cents per ordinary share. The company spun off its electric enclosures business, nVent Electric PLC, earlier this year, and Pentair's third-quarter earnings from continuing operations were 52 cents per share, compared with 27 cents in the same period a year ago.

On an adjusted basis, the company earned 54 cents per share, up from 49 cents per share in the third quarter of last year, a 10.2 percent increase. Analysts tracked by Thomson Reuters had expected adjusted EPS of 52 cents per share and third-quarter sales of $698.6 million.

Pentair's three water-focused operating segments now include Aquatic Systems, Filtration Solutions and Flow Technologies. Core revenue growth was strongest in the Aquatic Systems segment, up 12.3 percent. The Aquatic Systems segment makes pool and spa equipment. Third-quarter sales were $232.7 million, up from $211.8 million in the same quarter last year.

Pentair also announced that it expects fourth-quarter sales to be about $736 million with core sales growth of 4 to 5 percent, and adjusted EPS to be about 59 cents per share. The company also updated its adjusted EPS outlook for the full fiscal year to approximately $2.33 per share, a 2 cent increase over the outlook it gave when it reported second-quarter results in July.

Shares of Pentair closed Tuesday up nearly 2 percent to $38.76. Shares are down nearly 20 percent year-to-date and over the last 52 weeks have traded between $36.06 and $50.26 per share.