Verition Fund Management LLC Purchases 25,698 Shares of Mohawk Industries, Inc. (NYSE:MHK)

Verition Fund Management LLC grew its position in shares of Mohawk Industries, Inc. (NYSE:MHK) by 32.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,095 shares of the company’s stock after purchasing an additional 25,698 shares during the quarter. Verition Fund Management LLC owned approximately 0.16% of Mohawk Industries worth $16,726,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MHK. Captrust Financial Advisors boosted its position in Mohawk Industries by 95.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,756 shares of the company’s stock worth $764,000 after buying an additional 2,319 shares during the period. Hantz Financial Services Inc. increased its position in Mohawk Industries by 7.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,654 shares of the company’s stock valued at $266,000 after acquiring an additional 115 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Mohawk Industries by 2.2% during the third quarter. Public Sector Pension Investment Board now owns 9,165 shares of the company’s stock valued at $1,473,000 after acquiring an additional 200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Mohawk Industries by 15.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,307 shares of the company’s stock worth $1,977,000 after purchasing an additional 1,685 shares during the period. Finally, Bridgewater Associates LP grew its stake in shares of Mohawk Industries by 2.0% in the third quarter. Bridgewater Associates LP now owns 69,378 shares of the company’s stock worth $11,148,000 after purchasing an additional 1,379 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

Mohawk Industries Stock Down 0.2 %

Shares of NYSE MHK opened at $138.83 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.22. The firm has a market cap of $8.76 billion, a PE ratio of 15.72, a P/E/G ratio of 1.54 and a beta of 1.38. The company’s fifty day simple moving average is $148.19 and its 200 day simple moving average is $137.73. Mohawk Industries, Inc. has a 12-month low of $86.26 and a 12-month high of $164.29.

Insider Activity

In related news, insider Suzanne L. Helen sold 660 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the sale, the insider now directly owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The trade was a 0.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company raised Mohawk Industries from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $140.00 to $160.00 in a research report on Monday, October 7th. Jefferies Financial Group increased their price target on Mohawk Industries from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Truist Financial cut their price objective on Mohawk Industries from $184.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their target price on shares of Mohawk Industries from $124.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Baird R W upgraded shares of Mohawk Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.08.

About Mohawk Industries

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.