Canada Pension Plan Investment Board Has $3.78 Million Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Canada Pension Plan Investment Board cut its position in Mohawk Industries, Inc. (NYSE:MHK) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,300 shares of the company’s stock after selling 7,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Mohawk Industries were worth $3,783,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of Mohawk Industries in the 2nd quarter valued at about $235,000. Seven Eight Capital LP acquired a new position in Mohawk Industries during the 2nd quarter valued at about $1,317,000. Hsbc Holdings PLC boosted its stake in Mohawk Industries by 36.9% during the 2nd quarter. Hsbc Holdings PLC now owns 68,876 shares of the company’s stock valued at $7,763,000 after purchasing an additional 18,562 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Mohawk Industries by 18.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,260 shares of the company’s stock valued at $484,000 after purchasing an additional 661 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Mohawk Industries by 10.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,036,545 shares of the company’s stock worth $344,903,000 after buying an additional 292,661 shares in the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total value of $102,879.00. Following the completion of the sale, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Suzanne L. Helen sold 2,300 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $151.15, for a total transaction of $347,645.00. Following the completion of the transaction, the insider now directly owns 119,369 shares of the company’s stock, valued at $18,042,624.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the transaction, the insider now directly owns 121,669 shares of the company’s stock, valued at $17,881,692.93. The disclosure for this sale can be found here. Insiders sold 4,415 shares of company stock valued at $673,387 over the last three months. Insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Mohawk Industries from $108.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Raymond James raised shares of Mohawk Industries from a “market perform” rating to a “strong-buy” rating and set a $140.00 price target on the stock in a report on Monday, June 10th. Truist Financial lifted their price objective on shares of Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their price objective on shares of Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Bank of America upgraded shares of Mohawk Industries from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $177.00 in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned 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 $156.00.

Mohawk Industries Stock Down 1.7 %

Shares of NYSE:MHK opened at $154.34 on Thursday. Mohawk Industries, Inc. has a 52-week low of $76.02 and a 52-week high of $164.05. The firm has a fifty day moving average of $149.56 and a 200 day moving average of $128.73. The firm has a market capitalization of $9.74 billion, a PE ratio of -23.60, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92.

Mohawk Industries (NYSE:MHK) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.25. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a negative net margin of 3.30% and a positive return on equity of 8.07%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.76 earnings per share. As a group, research analysts anticipate that Mohawk Industries, Inc. will post 10 EPS for the current fiscal year.

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.