Mohawk Industries, Inc. $MHK Holdings Lifted by Royal Bank of Canada

Royal Bank of Canada increased its holdings in shares of Mohawk Industries, Inc. (NYSE:MHK) by 34.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,119 shares of the company’s stock after buying an additional 23,252 shares during the quarter. Royal Bank of Canada owned 0.15% of Mohawk Industries worth $10,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MHK. Ethic Inc. grew its holdings in shares of Mohawk Industries by 53.3% during the fourth quarter. Ethic Inc. now owns 4,506 shares of the company’s stock valued at $537,000 after buying an additional 1,567 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Mohawk Industries by 15.0% during the fourth quarter. Focus Partners Wealth now owns 1,867 shares of the company’s stock valued at $222,000 after buying an additional 244 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Mohawk Industries during the fourth quarter valued at $799,000. Janus Henderson Group PLC grew its stake in Mohawk Industries by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 25,659 shares of the company’s stock valued at $3,054,000 after purchasing an additional 120 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in Mohawk Industries by 2,257.0% in the fourth quarter. Lazard Asset Management LLC now owns 18,432 shares of the company’s stock valued at $2,194,000 after purchasing an additional 17,650 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the completion of the transaction, the chief executive officer directly owned 33,600 shares in the company, valued at $4,059,216. The trade was a 32.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernard Thiers sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $128.21, for a total value of $1,282,100.00. Following the transaction, the director owned 105,532 shares of the company’s stock, valued at approximately $13,530,257.72. This trade represents a 8.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,591 shares of company stock worth $4,055,407 over the last quarter. 17.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MHK. JPMorgan Chase & Co. boosted their target price on Mohawk Industries from $139.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $123.00 price target (up from $119.00) on shares of Mohawk Industries in a report on Monday, July 28th. Evercore ISI reduced their price target on Mohawk Industries from $124.00 to $123.00 and set an “in-line” rating for the company in a report on Monday, July 28th. Robert W. Baird lifted their price target on Mohawk Industries from $130.00 to $142.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Barclays lifted their price target on Mohawk Industries from $111.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.93.

Mohawk Industries Stock Performance

MHK opened at $139.80 on Friday. The company has a market cap of $8.69 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.94 and a beta of 1.25. The stock has a 50-day moving average of $122.82 and a 200-day moving average of $112.63. Mohawk Industries, Inc. has a 52-week low of $96.24 and a 52-week high of $164.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.15. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. Mohawk Industries had a return on equity of 7.30% and a net margin of 4.44%.The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.00 EPS. Mohawk Industries has set its Q3 2025 guidance at 2.560-2.660 EPS. As a group, equities research analysts forecast that Mohawk Industries, Inc. will post 9.8 earnings per share for the current fiscal year.

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.