Raymond James Financial Services Advisors Inc. Sells 257 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Mohawk Industries, Inc. (NYSE:MHK) by 7.4% during the fourth quarter, Holdings Channel reports. The firm owned 3,208 shares of the company’s stock after selling 257 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Mohawk Industries were worth $332,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Kinneret Advisory LLC boosted its stake in Mohawk Industries by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 3,451 shares of the company’s stock valued at $429,000 after buying an additional 77 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Mohawk Industries by 3.3% in the 1st quarter. Captrust Financial Advisors now owns 2,708 shares of the company’s stock valued at $336,000 after purchasing an additional 86 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Mohawk Industries by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 23,105 shares of the company’s stock worth $2,384,000 after purchasing an additional 110 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Mohawk Industries by 2.1% during the 4th quarter. SG Americas Securities LLC now owns 6,744 shares of the company’s stock worth $698,000 after purchasing an additional 136 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Mohawk Industries by 1.5% during the 1st quarter. UBS Group AG now owns 9,436 shares of the company’s stock valued at $946,000 after purchasing an additional 140 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MHK. Royal Bank of Canada raised their price objective on shares of Mohawk Industries from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, February 12th. TheStreet raised Mohawk Industries from a “d+” rating to a “c-” rating in a report on Monday, March 4th. The Goldman Sachs Group boosted their price objective on Mohawk Industries from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Truist Financial raised their target price on Mohawk Industries from $98.00 to $127.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Barclays upped their price target on shares of Mohawk Industries from $100.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Mohawk Industries currently has an average rating of “Hold” and a consensus price target of $118.75.

Mohawk Industries Stock Up 0.7 %

NYSE:MHK opened at $108.88 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. Mohawk Industries, Inc. has a 12-month low of $76.02 and a 12-month high of $131.19. The stock’s fifty day simple moving average is $119.28 and its 200-day simple moving average is $102.32. The firm has a market capitalization of $6.94 billion, a P/E ratio of -15.73 and a beta of 1.34.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Friday, February 9th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.10. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a positive return on equity of 7.52% and a negative net margin of 3.95%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.32 earnings per share. Equities research analysts expect that Mohawk Industries, Inc. will post 9.56 earnings per share for the current year.

Insider Activity at Mohawk Industries

In other Mohawk Industries news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the sale, the vice president now directly owns 15,321 shares in the company, valued at $1,831,012.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 17.10% of the company’s stock.

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.