Ashtead Group plc (LON:AHT) Raises Dividend to $0.89 Per Share

Ashtead Group plc (LON:AHT) declared a dividend on Tuesday, June 18th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.89 per share on Tuesday, September 10th. This represents a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, August 8th. This is a positive change from Ashtead Group’s previous dividend of $0.16. The official announcement can be accessed at this link.

Ashtead Group Stock Up 3.3 %

Ashtead Group stock opened at GBX 5,268 ($67.32) on Wednesday. The firm has a 50 day moving average price of GBX 5,373.76 and a two-hundred day moving average price of GBX 5,467.92. The company has a debt-to-equity ratio of 162.35, a quick ratio of 1.13 and a current ratio of 1.36. Ashtead Group has a 52-week low of GBX 4,437 ($56.70) and a 52-week high of GBX 6,180 ($78.98). The firm has a market cap of £22.99 billion, a price-to-earnings ratio of 1,753.26, a PEG ratio of 1.26 and a beta of 1.29.

Insider Buying and Selling

In other news, insider Brendan Horgan sold 37,063 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of GBX 5,112 ($65.33), for a total transaction of £1,894,660.56 ($2,421,291.45). In other news, insider Lucinda Riches sold 4,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of GBX 5,480 ($70.03), for a total transaction of £219,200 ($280,127.80). Also, insider Brendan Horgan sold 37,063 shares of Ashtead Group stock in a transaction dated Friday, July 5th. The stock was sold at an average price of GBX 5,112 ($65.33), for a total value of £1,894,660.56 ($2,421,291.45). 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AHT shares. Barclays reissued an “overweight” rating and issued a GBX 6,600 ($84.35) price objective on shares of Ashtead Group in a research note on Wednesday, May 15th. Jefferies Financial Group restated a “buy” rating and issued a GBX 6,150 ($78.59) price target on shares of Ashtead Group in a report on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Ashtead Group from GBX 6,800 ($86.90) to GBX 6,500 ($83.07) and set a “buy” rating on the stock in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of GBX 4,933.13 ($63.04).

Ashtead Group Company Profile

Ashtead Group plc, together with its subsidiaries, engages in the construction, industrial, and general equipment rental business in the United States, the United Kingdom, and Canada. It provides pumps, power generation, heating, cooling, scaffolding, traffic management, temporary flooring, trench shoring, and lifting services.