Commonwealth Equity Services LLC Makes New Investment in Mohawk Industries, Inc. (NYSE:MHK)

Commonwealth Equity Services LLC acquired a new position in shares of Mohawk Industries, Inc. (NYSE:MHK - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,046 shares of the company's stock, valued at approximately $482,000.

A number of other large investors have also modified their holdings of MHK. JPMorgan Chase & Co. grew its position in Mohawk Industries by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,539 shares of the company's stock valued at $485,983,000 after buying an additional 74,123 shares in the last quarter. State Street Corp boosted its holdings in shares of Mohawk Industries by 1.3% in the third quarter. State Street Corp now owns 1,846,446 shares of the company's stock valued at $296,687,000 after acquiring an additional 23,016 shares in the last quarter. Truist Financial Corp increased its stake in shares of Mohawk Industries by 7.4% during the fourth quarter. Truist Financial Corp now owns 374,456 shares of the company's stock valued at $44,609,000 after acquiring an additional 25,864 shares during the period. Amundi lifted its position in Mohawk Industries by 117.4% in the fourth quarter. Amundi now owns 331,750 shares of the company's stock worth $39,239,000 after purchasing an additional 179,121 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Mohawk Industries by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 316,805 shares of the company's stock valued at $37,741,000 after purchasing an additional 16,483 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company's stock.

Mohawk Industries Price Performance

Shares of MHK stock traded down $6.04 during trading hours on Thursday, hitting $102.92. 1,248,228 shares of the company's stock were exchanged, compared to its average volume of 739,425. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $164.29. The stock's 50-day moving average is $114.74 and its 200-day moving average is $128.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.12. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

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Mohawk Industries (NYSE:MHK - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. Mohawk Industries had a return on equity of 8.04% and a net margin of 4.78%. As a group, research analysts forecast that Mohawk Industries, Inc. will post 9.8 EPS for the current year.

Insider Activity

In related news, insider Suzanne L. Helen sold 10,500 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $113.44, for a total value of $1,191,120.00. Following the sale, the insider now directly owns 93,584 shares of the company's stock, valued at approximately $10,616,168.96. The trade was a 10.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on shares of Mohawk Industries from $125.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Robert W. Baird reduced their target price on Mohawk Industries from $160.00 to $152.00 and set an "outperform" rating for the company in a report on Monday, February 10th. Loop Capital lowered their price target on Mohawk Industries from $180.00 to $155.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft began coverage on Mohawk Industries in a research note on Tuesday, April 1st. They issued a "hold" rating and a $121.00 price objective for the company. Finally, Bank of America decreased their price objective on Mohawk Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.36.

Mohawk Industries Company Profile

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.