Canada Pension Plan Investment Board purchased a new stake in shares of Mohawk Industries, Inc. (NYSE:MHK – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 666,615 shares of the company’s stock, valued at approximately $80,880,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Mohawk Industries in the second quarter worth about $777,293,000. Pzena Investment Management LLC bought a new stake in Mohawk Industries during the 2nd quarter valued at approximately $138,661,000. Norges Bank acquired a new stake in Mohawk Industries in the 4th quarter valued at approximately $77,528,000. AQR Capital Management LLC grew its holdings in Mohawk Industries by 73.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,578,335 shares of the company’s stock valued at $200,922,000 after buying an additional 670,601 shares during the last quarter. Finally, Steadfast Capital Management LP increased its position in Mohawk Industries by 96.3% in the 3rd quarter. Steadfast Capital Management LP now owns 937,301 shares of the company’s stock worth $120,837,000 after buying an additional 459,700 shares during the period. 78.98% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CAO David Lee Repp sold 225 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $130.59, for a total value of $29,382.75. Following the completion of the transaction, the chief accounting officer directly owned 1,786 shares of the company’s stock, valued at approximately $233,233.74. This represents a 11.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bernard Thiers sold 13,393 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.98, for a total value of $1,807,787.14. Following the transaction, the director owned 93,633 shares of the company’s stock, valued at $12,638,582.34. This trade represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 115,882 shares of company stock valued at $14,603,948 over the last ninety days. Company insiders own 17.90% of the company’s stock.
Mohawk Industries Trading Down 0.8%
Mohawk Industries (NYSE:MHK – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $2.58 by $1.09. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.79 billion. Mohawk Industries had a net margin of 4.15% and a return on equity of 7.50%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.77 EPS. Mohawk Industries has set its Q3 2026 guidance at 2.380-2.480 EPS. On average, equities research analysts forecast that Mohawk Industries, Inc. will post 9.9 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on MHK. Robert W. Baird upped their price target on Mohawk Industries from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Wall Street Zen raised shares of Mohawk Industries from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Evercore set a $110.00 price target on shares of Mohawk Industries in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Mohawk Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $121.00 price target on shares of Mohawk Industries in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $130.50.
Check Out Our Latest Stock Analysis on MHK
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.
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