INNOVATE (VATE)
Operating a diversified portfolio of construction, life-sciences and broadcasting platforms.
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A holding-company portfolio combines DBM Global's industrial-construction, structural-steel and facilities-maintenance services with Pansend Life Sciences investments and HC2 Broadcasting's U.S. over-the-air stations. DBM Global is the main operating anchor, while a sale process shapes the Spectrum platform.
A holding-company portfolio spans Infrastructure, Life Sciences and Spectrum. Infrastructure is anchored by DBM Global, which provides industrial construction, structural-steel and facilities-maintenance services. Pansend Life Sciences holds life-sciences investments, while HC2 Broadcasting operates over-the-air stations across the United States.
DBM Global is the portfolio's industrial operating anchor, where INNOVATE holds a controlling interest. The group evolved from international telecommunications into this portfolio model; the Spectrum platform carries a financing dependency, with management pursuing a sale of HC2 Broadcasting after a strategic-process milestone was missed and reporting progress against the related milestones.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $87.8M · Total debt $682.4M · Total assets $1.01B · Shareholders' equity −$233.5M
- Revenue
- $421.6M
- Operating income
- $34.5M
- Net income
- $10.7M
| Institutions | 23.07% | 3.15M shares | |
|---|---|---|---|
| 50 holders · as of Jun 30, 2026 | |||
| Insiders | 25.85% | 3.53M shares | |
| 6 holders · as of Aug 14, 2026 | |||
| Other | 51.08% | 6.97M shares | |
| remainder | |||
13.64M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Avram A. GlazerInsiderdirector, 10 percent owner | 15.86% | 2.16M | filed Aug 13, 2026 |
Paul Voigt1Insiderofficer: Interim CEO | 7.56% | 1.03M | filed Aug 14, 2026 |
Whitefort Capital Management, LPInstitution | 5.45% | 743,000 | as of Jun 30, 2026 |
Jefferies Financial Group Inc.Institution | 5.14% | 700,802 | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 2.60% | 354,408 | as of Jun 30, 2026 |
- Paul Voigt's transaction reports restate only vehicles that traded; the 2026 ownership statement (1.03M) is used instead.
Insider tradesForm 4
No open-market trades in the last 12 months.
- Fluor
Large-scale project delivery in industrial and infrastructure construction
- EMCOR Group
Electrical, mechanical and facilities services for complex facilities
- Sinclair
Local TV stations, multicast networks and original content
- Gray Media
Local TV stations and digital assets across U.S. markets
- MasTec
Engineering and construction across energy and infrastructure
- E.W. Scripps
Local TV stations, national networks and broadcast spectrum
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| INNOVATE | $8.12 | −0.79% | $111.6M | — | — | 0.1 | +72.9% |
| Fluor | $54.31 | −0.79% | $7.65B | — | 16.8 | 0.5 | +8.8% |
| EMCOR Group | $754.88 | −0.37% | $33.42B | 23.7 | 21.6 | 1.8 | +19.8% |
| Sinclair | $13.13 | −0.60% | $923.2M | 17.5 | 25.4 | 0.3 | +7.1% |
| Gray Media | $4.64 | +0.32% | $451.2M | — | 2.6 | 0.1 | +8.7% |
| MasTec | $223.88 | +0.44% | $17.90B | 35.6 | 20.2 | 1.1 | +23.4% |
| E.W. Scripps | $3.14 | +1.46% | $246.0M | — | — | 0.1 | −9.2% |
| Median | 23.7 | 20.2 | 0.4 | +8.8% |