London, Feb 24, 2026, 09:06 GMT — Regular session.
Ashtead Group (AHT.L) slipped 0.5% to 5,118 pence in London’s early session Tuesday, following a previous close of 5,144 pence. (Investing.com)
Investors have watched the stock juggle expectations for capital returns while also bracing for an imminent corporate schedule that’s set to tilt more of the group’s activity toward New York.
This is key right now: the next two weeks pack in technical events—think buybacks, listing moves, new figures—just as risk appetite in London wobbles and investors keep slashing exposure fast.
A regulatory filing out Tuesday revealed Ashtead repurchased 86,598 ordinary shares for its treasury on Feb. 23, paying an average 5,155.5327 pence apiece through J.P. Morgan Securities. Following the buyback, the company reported 414,053,080 shares outstanding, excluding those in treasury, and 37,301,753 treasury shares on the books. (Investegate)
Treasury stock refers to shares a company buys back and keeps on its own books, instead of cancelling them. That move shrinks the pool of shares available for trading and can eventually bump up earnings per share. Still, it leaves actual demand for rented kit untouched.
No real movement for Britain’s FTSE 100 on Monday; it closed nearly unchanged. Reuters flagged fresh anxiety over U.S. tariffs as the drag on market sentiment. (Reuters)
Ashtead has already been forced to explain a weaker stretch to its investors. Back in December, RBC Capital Markets analysts described the company’s second quarter as “a soggy quarter”, blaming increased internal repair expenses and a less active hurricane season. (Just for reference, 100 basis points equals one percentage point.) At the same time, Ashtead announced a $1.5 billion buyback plan tied to its New York relisting, according to Reuters. (Reuters)
Pricing strength and solid project pipelines have been the go-to for company leadership. During the December earnings call, chief executive Brendan Horgan described rental rates as “remain resilient” and highlighted extended lead times for local non-residential work. (Investing.com Canada)
Still, the short-term outlook isn’t exactly smooth. If U.S. construction numbers disappoint, costs rise again, or the transition to a new primary market hits turbulence, the buyback could find itself cleaning up after the fact, rather than driving the action.
Now to the U.S. listing process. Ashtead said Sunbelt Rentals’ Form 10 is slated to go effective Feb. 26. The UK court scheme? That’s targeting Feb. 27. If everything lines up, shares should hit both the NYSE and LSE on March 2, trading as “SUNB.” All of this, of course, depends on conditions being met. (investments.bankofscotland.co.uk)
All eyes now turn to March 12, the date Sunbelt Rentals Holdings is scheduled to release its third-quarter numbers for the stretch ending Jan. 31. Separately, Ashtead pointed to a balance-sheet classification problem—minor, they insist—linked to senior notes coming due in August 2026. The company maintains there’s zero effect on net assets, profit, or cash flow. (investments.bankofscotland.co.uk)
