BerganKDV Wealth Management LLC Lowers Position in Mohawk Industries, Inc. (NYSE:MHK)

BerganKDV Wealth Management LLC decreased its position in Mohawk Industries, Inc. (NYSE:MHK) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,772 shares of the company’s stock after selling 331 shares during the period. BerganKDV Wealth Management LLC’s holdings in Mohawk Industries were worth $912,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MHK. Rathbone Brothers plc raised its position in Mohawk Industries by 44.5% in the first quarter. Rathbone Brothers plc now owns 7,825 shares of the company’s stock valued at $1,796,000 after buying an additional 2,408 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of Mohawk Industries by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 54,360 shares of the company’s stock valued at $12,475,000 after buying an additional 1,683 shares during the last quarter. Capital Investment Services of America Inc. raised its position in shares of Mohawk Industries by 7.9% in the first quarter. Capital Investment Services of America Inc. now owns 34,209 shares of the company’s stock valued at $7,851,000 after buying an additional 2,500 shares during the last quarter. Atalanta Sosnoff Capital LLC raised its position in shares of Mohawk Industries by 55.1% in the first quarter. Atalanta Sosnoff Capital LLC now owns 188,347 shares of the company’s stock valued at $43,224,000 after buying an additional 66,873 shares during the last quarter. Finally, Pensionfund DSM Netherlands purchased a new position in shares of Mohawk Industries during the first quarter valued at about $3,167,000. 76.31% of the stock is currently owned by institutional investors and hedge funds.

Mohawk Industries, Inc. (MHK) opened at 245.43 on Friday. Mohawk Industries, Inc. has a one year low of $175.52 and a one year high of $252.89. The firm has a 50 day moving average of $245.96 and a 200-day moving average of $234.13. The firm’s market cap is $18.24 billion.

Mohawk Industries (NYSE:MHK) last issued its earnings results on Thursday, July 27th. The company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.12. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.45 billion. Mohawk Industries had a net margin of 10.54% and a return on equity of 16.45%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.47 EPS. Equities research analysts forecast that Mohawk Industries, Inc. will post $13.53 EPS for the current fiscal year.

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MHK has been the subject of a number of recent analyst reports. MKM Partners restated a “buy” rating and issued a $286.00 price objective (up previously from $255.00) on shares of Mohawk Industries in a research report on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $291.00 price objective on shares of Mohawk Industries in a research report on Monday, July 31st. Zacks Investment Research cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub cut shares of Mohawk Industries from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Finally, Credit Suisse Group initiated coverage on shares of Mohawk Industries in a report on Thursday, June 22nd. They issued an “outperform” rating and a $274.00 target price for the company. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $266.64.

In related news, VP Rodney David Patton sold 387 shares of Mohawk Industries stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $242.00, for a total transaction of $93,654.00. Following the transaction, the vice president now owns 7,061 shares of the company’s stock, valued at approximately $1,708,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cock Frans Georges De sold 1,000 shares of Mohawk Industries stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $238.27, for a total transaction of $238,270.00. Following the transaction, the director now directly owns 13,016 shares in the company, valued at approximately $3,101,322.32. The disclosure for this sale can be found here. Insiders sold a total of 7,587 shares of company stock worth $1,823,768 in the last ninety days. Insiders own 17.10% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company’ segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring.

Institutional Ownership by Quarter for Mohawk Industries (NYSE:MHK)

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