HC2 Holdings Inc (HCHC) Upgraded to “Hold” by Zacks Investment Research
HC2 Holdings Inc (NASDAQ:HCHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “HC2 Holdings, Inc. is a holding company which seeks to acquire and grow attractive businesses. The company’s operating segments consists of Manufacturing, Marine Services, Insurance, Utilities, Telecommunications, Life Sciences and Other. Its operating subsidiaries consists of Schuff International Inc., is a steel fabricator and erector primarily in the United States and Global Marine Systems Limited, provider of engineering and underwater services on submarine cables. HC2 Holdings, Inc. is headquartered in New York. “
Separately, B. Riley reiterated a “buy” rating and set a $10.00 price target on shares of HC2 Holdings in a research note on Sunday, August 13th.
HC2 Holdings (NASDAQ:HCHC) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.17). The company had revenue of $378.65 million for the quarter, compared to analysts’ expectations of $424.16 million. Equities research analysts forecast that HC2 Holdings will post ($1.00) earnings per share for the current year.
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A number of large investors have recently modified their holdings of HCHC. Teachers Advisors LLC increased its stake in HC2 Holdings by 12.2% during the fourth quarter. Teachers Advisors LLC now owns 89,918 shares of the technology company’s stock worth $533,000 after purchasing an additional 9,780 shares during the period. Wells Fargo & Company MN increased its stake in HC2 Holdings by 72.8% during the first quarter. Wells Fargo & Company MN now owns 32,752 shares of the technology company’s stock worth $203,000 after purchasing an additional 13,800 shares during the period. Parametric Portfolio Associates LLC increased its stake in HC2 Holdings by 154.1% during the first quarter. Parametric Portfolio Associates LLC now owns 30,440 shares of the technology company’s stock worth $189,000 after purchasing an additional 18,461 shares during the period. SG Americas Securities LLC purchased a new stake in HC2 Holdings during the first quarter worth about $108,000. Finally, American International Group Inc. increased its stake in HC2 Holdings by 7.1% during the first quarter. American International Group Inc. now owns 20,563 shares of the technology company’s stock worth $127,000 after purchasing an additional 1,364 shares during the period.
About HC2 Holdings
HC2 Holdings, Inc engages in construction, marine services, insurance, telecommunications, energy, life sciences, and other businesses in the United States, the United Kingdom, and internationally. The company fabricates and erects structural steel for commercial and industrial construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, and power plants.
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