Justin Paget/DigitalVision via Getty ImagesSales growth certainly matters for industrial companies, but over time there has been a closer correlation between margins (and margin-driven metrics like ROIC) and multiples than growth and multiples for industrials. That’s a meaningful positive for Pentair (NYSE:PNR), as this leading player in water-related systems continues to excel on the margin side. Pentair shares are up about 45% since my last update, not only outperforming the industrial space, but outp ...