Kestra Advisory Services LLC Raises Stake in Mohawk Industries, Inc. (NYSE:MHK)

Kestra Advisory Services LLC raised its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 12.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,254 shares of the company’s stock after buying an additional 257 shares during the quarter. Kestra Advisory Services LLC’s holdings in Mohawk Industries were worth $433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cigna Investments Inc. New lifted its holdings in shares of Mohawk Industries by 3.0% in the first quarter. Cigna Investments Inc. New now owns 2,182 shares of the company’s stock worth $420,000 after buying an additional 64 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new stake in Mohawk Industries in the 1st quarter worth approximately $3,622,000. WESPAC Advisors LLC bought a new position in Mohawk Industries in the 1st quarter valued at $332,000. SeaBridge Investment Advisors LLC grew its position in shares of Mohawk Industries by 2.7% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 14,003 shares of the company’s stock valued at $2,693,000 after purchasing an additional 364 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Mohawk Industries by 6.6% in the first quarter. BlackRock Inc. now owns 4,865,700 shares of the company’s stock worth $935,721,000 after purchasing an additional 302,868 shares during the period. Hedge funds and other institutional investors own 74.70% of the company’s stock.

MHK opened at $190.94 on Friday. Mohawk Industries, Inc. has a 12 month low of $67.79 and a 12 month high of $231.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.85. The business has a 50-day moving average of $207.87. The stock has a market capitalization of $13.31 billion, a P/E ratio of 21.12 and a beta of 1.57.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings results on Thursday, April 29th. The company reported $3.49 EPS for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.69. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Mohawk Industries had a return on equity of 9.14% and a net margin of 6.46%. Analysts expect that Mohawk Industries, Inc. will post 13.42 earnings per share for the current year.

MHK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Mohawk Industries from $157.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 16th. Raymond James upped their price objective on shares of Mohawk Industries from $235.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Monday, May 3rd. Royal Bank of Canada lifted their target price on shares of Mohawk Industries from $134.00 to $154.00 and gave the company an “underperform” rating in a research report on Monday, May 3rd. Loop Capital increased their price target on shares of Mohawk Industries from $170.00 to $190.00 and gave the stock a “hold” rating in a report on Tuesday, April 20th. Finally, Barclays raised their price objective on shares of Mohawk Industries from $191.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $156.81.

In other Mohawk Industries news, insider Bernard Thiers sold 5,000 shares of the stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $222.00, for a total transaction of $1,110,000.00. Following the completion of the sale, the insider now owns 65,508 shares of the company’s stock, valued at approximately $14,542,776. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 18.90% of the stock is owned by insiders.

Mohawk Industries Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for remodeling and new constructions of residential and commercial spaces in the United States, Europe, Russia, and internationally. It operates through three segments: Global Ceramic, Flooring North America (Flooring NA), and Flooring Rest of the World (Flooring ROW).

Further Reading: Exchange-Traded Funds (ETFs)

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Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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