Envestnet Asset Management Inc. increased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) by 27.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,230 shares of the company's stock after purchasing an additional 20,230 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of Mohawk Industries worth $10,645,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Mohawk Industries by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company's stock valued at $742,154,000 after acquiring an additional 20,327 shares in the last quarter. JPMorgan Chase & Co. grew its position in Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company's stock valued at $383,076,000 after acquiring an additional 191,077 shares in the last quarter. Invesco Ltd. grew its position in Mohawk Industries by 16.3% in the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company's stock valued at $205,545,000 after acquiring an additional 241,448 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Mohawk Industries by 35.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company's stock valued at $162,793,000 after acquiring an additional 354,656 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Mohawk Industries by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company's stock valued at $154,488,000 after acquiring an additional 22,736 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
MHK has been the subject of several research reports. Barclays dropped their target price on Mohawk Industries from $115.00 to $111.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Mohawk Industries in a research report on Tuesday, April 1st. They issued a "hold" rating and a $121.00 target price for the company. Wall Street Zen cut Mohawk Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Royal Bank Of Canada decreased their price objective on Mohawk Industries from $130.00 to $119.00 and set a "sector perform" rating for the company in a research note on Monday, May 5th. Finally, Wells Fargo & Company lifted their price objective on Mohawk Industries from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $140.71.
View Our Latest Stock Report on Mohawk Industries
Mohawk Industries Stock Down 0.5%
MHK stock traded down $0.58 during trading on Thursday, hitting $116.08. 1,258,340 shares of the company's stock were exchanged, compared to its average volume of 720,086. The business has a 50-day moving average price of $105.75 and a two-hundred day moving average price of $111.41. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 4.31 and a beta of 1.18. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.22.
Mohawk Industries (NYSE:MHK - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.14. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.00 earnings per share. As a group, equities research analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current year.
About Mohawk Industries
(
Free Report)
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.
Read More
Before you consider Mohawk Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mohawk Industries wasn't on the list.
While Mohawk Industries currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
