INNOVATE Corp. (VATE) Stock

About INNOVATE Corp.

INNOVATE Corp. (VATE), a New York-based entity founded in 1994 and previously known as HC2 Holdings, Inc. until its name change in September 2021, manages a diverse range of subsidiaries operating within the infrastructure, life sciences, and spectrum sectors across the United States. Its extensive infrastructure division delivers services such as industrial construction, structural steel work, and facility maintenance. These capabilities are applied to a wide array of projects, including commercial structures like office complexes, hotels, casinos, convention centers, sports arenas, shopping malls, and hospitals, as well as significant industrial and civic infrastructure like dams, bridges, mines, metal processing plants, refineries, pulp and paper mills, and power generation facilities. INNOVATE also manufactures specialized components such as trusses, girders, water pipes, storage tanks, tunnel liners, pressure vessels, strainers, filters, separators, and other custom products. The company additionally offers integrated solutions encompassing digital engineering, modeling, detailing, construction, heavy equipment installation, and facility services, alongside expert steel and rebar detailing and BIM modeling and management. Furthermore, it supplies equipment critical to the oil, gas, petrochemical, and pipeline industries. Within the life sciences realm, INNOVATE focuses on the development of products designed to address early osteoarthritis of the knee, as well as aesthetic and medical technologies for skin care. Finally, its spectrum operations include the management of various over-the-air broadcasting stations and the operation of Azteca America, a Spanish-language broadcast network.

INNOVATE Corp. is led by CEO Paul Kenneth Voigt, employs 3,135 people, headquartered in US, publicly traded since 2009.

INNOVATE Corp. (VATE) stock trades at $8.50 with a market capitalization of $115.96M. The stock is valued at a price-to-earnings (P/E) ratio of -1.96, price-to-book of -0.45, price-to-sales of 0.09. Over the past 52 weeks the stock has ranged between $3.75 and $21.30, and currently trades 60.1% below its 52-week high. It pays a dividend yielding 9.35%.

On profitability, INNOVATE Corp. generates a return on equity (ROE) of 22.84% — well above the market average, a sign of a high-quality business, return on capital employed of -46.14%, an operating margin of 2.73%, a net profit margin of -3.96%.

Official website: www.innovatecorp.com