Not even close to ND. They've got some good EG programs in Happy Valley and place well into jobs (typically) but the quality of academics, student to faculty ratio, intelligence of the student body, etc. are all far below ND when you look at the metrics.
My little brother started at PSU this past fall. My parents got back from dropping him off and frankly hated how he was just a number there and no one seemed to give a ****. They have a slightly better impression after a semester, but even my brother admits that most students there don't take class seriously at all because you don't have to when there are so many people. And it was rated the #1 party school last year or something.
Bottom line is that ND, and even Syracuse to a degree, are much better schools for undergrad education than PSU.