PNC Financial Services Group Inc. Raises Stake in Mohawk Industries, Inc. $MHK

PNC Financial Services Group Inc. raised its stake in Mohawk Industries, Inc. (NYSE:MHK) by 50.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,429 shares of the company’s stock after acquiring an additional 4,854 shares during the period. PNC Financial Services Group Inc.’s holdings in Mohawk Industries were worth $1,860,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MHK. Invesco Ltd. increased its position in shares of Mohawk Industries by 7.4% during the 2nd quarter. Invesco Ltd. now owns 1,957,197 shares of the company’s stock valued at $205,192,000 after purchasing an additional 135,246 shares during the last quarter. State Street Corp lifted its position in shares of Mohawk Industries by 2.1% in the second quarter. State Street Corp now owns 1,915,831 shares of the company’s stock worth $200,856,000 after buying an additional 39,556 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Mohawk Industries by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,829,830 shares of the company’s stock valued at $235,902,000 after acquiring an additional 9,516 shares during the last quarter. Geode Capital Management LLC lifted its position in Mohawk Industries by 0.3% during the second quarter. Geode Capital Management LLC now owns 1,358,212 shares of the company’s stock valued at $142,124,000 after purchasing an additional 4,085 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Mohawk Industries by 9.4% in the second quarter. American Century Companies Inc. now owns 1,096,223 shares of the company’s stock worth $114,928,000 after acquiring an additional 94,373 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.

Insider Buying and Selling

In other news, insider Suzanne L. Helen sold 3,500 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $110.36, for a total transaction of $386,260.00. Following the completion of the transaction, the insider directly owned 70,593 shares in the company, valued at $7,790,643.48. This trade represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 11,985 shares of company stock worth $1,330,156 in the last 90 days. 17.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wolfe Research downgraded shares of Mohawk Industries from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Robert W. Baird set a $156.00 price objective on Mohawk Industries in a report on Tuesday, February 17th. Wells Fargo & Company upped their target price on Mohawk Industries from $110.00 to $125.00 and gave the stock a “cautious” rating in a report on Wednesday, February 11th. Wall Street Zen cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Jefferies Financial Group reduced their target price on Mohawk Industries from $134.00 to $128.00 and set a “hold” rating on the stock in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Mohawk Industries presently has an average rating of “Hold” and a consensus target price of $137.64.

Mohawk Industries Stock Performance

MHK opened at $127.02 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.21 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $119.60 and its 200 day moving average price is $121.29. The firm has a market capitalization of $7.85 billion, a PE ratio of 21.46, a PEG ratio of 2.01 and a beta of 1.23. Mohawk Industries, Inc. has a twelve month low of $96.24 and a twelve month high of $143.13.

Mohawk Industries (NYSE:MHK) last released its quarterly earnings data on Thursday, February 12th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.02. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Mohawk Industries had a net margin of 3.43% and a return on equity of 6.80%. Mohawk Industries’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.95 earnings per share. Mohawk Industries has set its Q1 2026 guidance at 1.750-1.850 EPS. As a group, sell-side analysts expect that Mohawk Industries, Inc. will post 9.8 EPS for the current fiscal year.

Mohawk Industries Profile

Mohawk Industries, Inc is a global flooring manufacturer that designs, produces and distributes a broad range of floor covering products for both residential and commercial applications. Headquartered in Calhoun, Georgia, the company traces its roots to 1878 and has expanded through a series of strategic acquisitions and organic growth initiatives. Over the decades, Mohawk has built a vertically integrated platform encompassing yarn manufacturing, fiber production, wood and laminate finishing, and ceramic tile fabrication, enabling tight control over product quality and supply chain efficiency.

The company’s product portfolio includes residential and commercial carpet, ceramic and porcelain tile, laminate, wood and natural stone flooring, luxury vinyl, and innovative surface solutions.