Northern Trust Corp Purchases 8,440 Shares of INNOVATE Corp. (NYSE:VATE)

Northern Trust Corp boosted its position in shares of INNOVATE Corp. (NYSE:VATE) by 75.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,619 shares of the company’s stock after acquiring an additional 8,440 shares during the period. Northern Trust Corp owned approximately 0.15% of INNOVATE worth $97,000 at the end of the most recent quarter.

Separately, MSH Capital Advisors LLC bought a new position in INNOVATE during the 4th quarter valued at about $73,000. Institutional investors own 34.28% of the company’s stock.

INNOVATE Stock Up 6.6%

NYSE:VATE opened at $5.81 on Wednesday. The firm has a market cap of $77.15 million, a PE ratio of -1.62 and a beta of 2.23. INNOVATE Corp. has a 12 month low of $3.25 and a 12 month high of $13.79. The company’s 50-day moving average price is $6.27 and its two-hundred day moving average price is $7.26.

INNOVATE (NYSE:VATE) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.89) EPS for the quarter. The company had revenue of $274.20 million during the quarter.

INNOVATE Profile

INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel plate services, and large-diameter water pipes and water storage tanks; fabrication of trusses and girders; and 3-D building information modeling and detailing for commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants.