Envestnet Asset Management Inc. Has $10.65 Million Stock Holdings in Mohawk Industries, Inc. (NYSE:MHK)

Envestnet Asset Management Inc. grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 27.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,230 shares of the company’s stock after buying an additional 20,230 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of Mohawk Industries worth $10,645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Mohawk Industries by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,229,786 shares of the company’s stock worth $742,154,000 after buying an additional 20,327 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Mohawk Industries by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,215,616 shares of the company’s stock valued at $383,076,000 after acquiring an additional 191,077 shares in the last quarter. Invesco Ltd. lifted its position in shares of Mohawk Industries by 16.3% during the 4th quarter. Invesco Ltd. now owns 1,725,383 shares of the company’s stock valued at $205,545,000 after acquiring an additional 241,448 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Mohawk Industries by 35.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,366,517 shares of the company’s stock worth $162,793,000 after purchasing an additional 354,656 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Mohawk Industries by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,298,260 shares of the company’s stock worth $154,488,000 after purchasing an additional 22,736 shares in the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Trading Down 0.0%

Shares of MHK stock opened at $111.20 on Monday. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $164.29. The stock’s fifty day simple moving average is $105.34 and its 200 day simple moving average is $111.41. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.95 billion, a P/E ratio of 14.55, a P/E/G ratio of 4.34 and a beta of 1.18.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Mohawk Industries had a return on equity of 7.68% and a net margin of 4.54%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 earnings per share. As a group, sell-side analysts predict that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Analysts Set New Price Targets

MHK has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price objective on shares of Mohawk Industries from $130.00 to $119.00 and set a “sector perform” rating for the company in a research report on Monday, May 5th. Barclays dropped their target price on shares of Mohawk Industries from $115.00 to $111.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Wall Street Zen lowered shares of Mohawk Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mohawk Industries in a research note on Tuesday, April 1st. They issued a “hold” rating and a $121.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on Mohawk Industries from $156.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mohawk Industries presently has a consensus rating of “Moderate Buy” and an average price target of $140.71.

Mohawk Industries 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.