PNC Financial Services Group Inc. Purchases 1,731 Shares of Mohawk Industries, Inc. (NYSE:MHK)

PNC Financial Services Group Inc. boosted its position in Mohawk Industries, Inc. (NYSE:MHK) by 22.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,390 shares of the company’s stock after purchasing an additional 1,731 shares during the period. PNC Financial Services Group Inc.’s holdings in Mohawk Industries were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its position in Mohawk Industries by 3.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,148 shares of the company’s stock valued at $1,590,000 after acquiring an additional 405 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Mohawk Industries by 2.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,755 shares of the company’s stock valued at $9,654,000 after purchasing an additional 2,112 shares during the period. Tidal Investments LLC grew its holdings in shares of Mohawk Industries by 28.1% in the first quarter. Tidal Investments LLC now owns 12,831 shares of the company’s stock worth $1,679,000 after purchasing an additional 2,816 shares during the last quarter. Swedbank AB purchased a new position in Mohawk Industries in the 1st quarter worth about $2,340,000. Finally, GAMMA Investing LLC lifted its holdings in Mohawk Industries by 21.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,196 shares of the company’s stock valued at $249,000 after buying an additional 389 shares in the last quarter. Institutional investors own 78.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Robert W. Baird upgraded Mohawk Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $160.00 to $196.00 in a report on Monday, October 21st. Truist Financial lowered their target price on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating for the company in a report on Monday, October 28th. Barclays dropped their price target on Mohawk Industries from $161.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, Wells Fargo & Company raised shares of Mohawk Industries from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $140.00 to $160.00 in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Mohawk Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.08.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of Mohawk Industries stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 17.10% of the company’s stock.

Mohawk Industries Trading Down 3.5 %

NYSE MHK opened at $139.91 on Wednesday. Mohawk Industries, Inc. has a 52 week low of $82.71 and a 52 week high of $164.29. The company has a 50 day moving average price of $149.22 and a 200 day moving average price of $137.57. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The firm has a market cap of $8.83 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.53 and a beta of 1.38.

About Mohawk Industries

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.