London, Jan 25, 2026, 08:55 GMT — The market has closed.
- Shares of Ashtead ended Friday’s session at 5,228 pence, slipping roughly 0.3%.
- A regulatory filing revealed another tranche of buybacks under its current programme.
- Upcoming catalysts are the Fed meeting on Jan 27-28, U.S. peer earnings reports, and Ashtead’s February dividend payment date.
Ashtead Group’s shares are set to open in London on Monday following a fresh, modest buyback announcement by the equipment rental company. The stock finished slightly weaker on Friday, closing at 5,228 pence, down roughly 0.3%. (Investing)
The market’s closed for the weekend, leaving investors to mull if steady buybacks and an imminent dividend payout will hold the stock up, despite ongoing volatility in U.S. rate forecasts and construction activity.
Timing is crucial now. Ashtead is balancing a repurchase programme underway, a cash dividend set for early February, and a planned move of its primary listing to the United States come March.
On Friday, Ashtead revealed it acquired 74,568 shares on Jan. 22, paying an average of 5,189.3234 pence each. The shares were bought “for Treasury,” indicating the company is holding onto them instead of cancelling right away. Following the deal, Ashtead reported 415.9 million shares outstanding, not counting treasury stock. (Sharecast)
The group plans a new $1.5 billion share buyback timed with the listing of Sunbelt Rentals on both the London and New York Stock Exchanges, expected on March 2. According to a filing, the first phase will wrap up by June 24, kicking off with 20 trading days on the LSE before shifting to the NYSE. (Investegate)
Ashtead’s upcoming cash dividend will be paid on Feb. 6, per its dividend calendar. The stock went ex-dividend on Jan. 8, so anyone purchasing shares after that date won’t receive the February payment. (Ashtead Group)
Operationally, Ashtead’s heavy North American focus is a double-edged sword. The company, trading as Sunbelt Rentals, highlights strong demand from “mega projects” like data centres and semiconductor plants, which partly offset a slowdown in U.S. commercial construction. It expects rental revenue growth of between flat and 4% for the year ending April 2026. (Reuters)
Still, concerns linger around costs and utilization rates. Analysts point to margin squeezes in weaker areas of U.S. construction. RBC Capital Markets noted back in December that challenging conditions made the quarter appear “soggy,” with EBITDA margins under pressure compared to last year. (Reuters)
Macro factors are once again taking center stage. The Federal Reserve’s upcoming policy meeting on Jan. 27-28 will be closely watched as it shapes near-term rate expectations, impacting U.S. building activity and equipment demand. (Federal Reserve)
Investors are eyeing U.S. rival United Rentals, which plans to hold its fourth-quarter and full-year earnings call on Jan. 29. (Unitedrentals)
Ashtead faces its first challenge once London trading kicks off again on Monday. The focus will then shift to the dividend payment on Feb. 6 and whether the planned U.S. listing switch on March 2—and the buyback set to begin then—will proceed as planned.
