London, Feb 11, 2026, 09:09 GMT — Regular session
- In early London trading, Ashtead shares inched up 0.04% to 5,002 pence.
- The company revealed a new batch of daily repurchases as part of its ongoing buyback program.
- Investors are eyeing key regulatory updates due late February before the anticipated March 2 listing change.
Ashtead Group plc (AHT.L) shares nudged up 0.04% to 5,002 pence by 0856 GMT following another batch of share buybacks. The equipment rental company’s stock had closed at 5,000 pence on Tuesday and fluctuated between 4,939 and 5,010 on Wednesday, with roughly 72,000 shares traded. (Share Prices)
Steady share buybacks are significant now since the stock trades on relatively light volume, letting corporate purchases influence early trading. The company is also preparing to move its primary listing to the U.S., a change investors believe will alter its shareholder base.
Ashtead reported buying 88,400 shares for its treasury on Feb. 10 at an average price of 5,015.3014 pence, with the price range spanning from 4,944 to 5,088 pence. The deal, handled by J.P. Morgan Securities, cost about £4.4 million. After the transaction, Ashtead had 414,833,005 shares outstanding, excluding those held in treasury, the company said. (Investegate)
Just one day before, it bought back 89,969 shares at an average price of 4,946.0016 pence, again via J.P. Morgan, according to a filing. The purchase prices ranged from 4,904 to 4,989 pence. (Investegate)
Buybacks cut the number of shares outstanding and can boost earnings per share without any profit growth. They also tend to act like a price magnet in the short run, as investors track the levels at which the company is buying back stock.
The bigger shift comes from the U.S. Ashtead revealed that Sunbelt Rentals Holdings has submitted a registration statement on Form 10 with the U.S. SEC, aiming for it to take effect on Feb. 26. The company plans to list on both the NYSE and London Stock Exchange by March 2, trading under the ticker “SUNB.” (Stockopedia)
In its half-year results released in December, CEO Brendan Horgan confirmed the group’s “continued confidence” in free cash flow projections. He also announced a fresh $1.5 billion buyback starting March 2, coinciding with the relisting. At that time, the company reaffirmed its guidance on rental revenue, capital expenditure, and free cash flow for the full year. (Ashtead Group)
Ashtead’s core operations are mostly in the U.S., running under the Sunbelt Rentals name, which ties its stock closely to American construction and industrial activity. United Rentals, the bigger publicly traded rival, often sets the mood on demand, influencing how investors trade the whole sector.
But buybacks won’t break the cycle. “Tough underlying trading conditions … meant Q2 was destined to be a soggy quarter,” RBC Capital Markets analysts noted following Ashtead’s December update, highlighting margin pressure after a subdued hurricane season. (Reuters)
Currently, the stock is trading close to the price range where the company has been actively buying shares, serving more as a reference than a hard floor. With volumes remaining light, even standard repurchase activity can influence the market’s early moves.
Coming up, traders will keep an eye on daily repurchase notices along with any official word on the timing of the Feb. 26 Form 10 and the March 2 listing date. If there’s a delay, it’ll probably show first in spreads and volume.
