Envestnet Asset Management Inc. trimmed its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,506 shares of the company’s stock after selling 237 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Mohawk Industries were worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of MHK. Sun Life Financial INC raised its stake in shares of Mohawk Industries by 5,675.0% during the 2nd quarter. Sun Life Financial INC now owns 462 shares of the company’s stock worth $112,000 after purchasing an additional 454 shares during the period. First Personal Financial Services raised its stake in shares of Mohawk Industries by 6.6% during the 2nd quarter. First Personal Financial Services now owns 568 shares of the company’s stock worth $137,000 after purchasing an additional 35 shares during the period. IFP Advisors Inc raised its stake in shares of Mohawk Industries by 18.6% during the 2nd quarter. IFP Advisors Inc now owns 625 shares of the company’s stock worth $151,000 after purchasing an additional 98 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Mohawk Industries during the 3rd quarter worth $212,000. Finally, Captrust Financial Advisors bought a new stake in shares of Mohawk Industries during the 2nd quarter worth $217,000. 76.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on MHK shares. Barclays lifted their target price on Mohawk Industries from $285.00 to $301.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. ValuEngine upgraded Mohawk Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Zacks Investment Research cut Mohawk Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Northcoast Research started coverage on Mohawk Industries in a research note on Thursday, October 5th. They set a “buy” rating and a $295.00 target price on the stock. Finally, Nomura set a $300.00 target price on Mohawk Industries and gave the stock a “buy” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Mohawk Industries has an average rating of “Buy” and an average price target of $289.33.
Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.01. Mohawk Industries had a return on equity of 16.03% and a net margin of 10.37%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the business posted $3.50 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. research analysts predict that Mohawk Industries, Inc. will post 13.52 earnings per share for the current fiscal year.
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Mohawk Industries Profile
Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.
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