Ashtead Technology (LON:AT) Hits New 12-Month High at $850.00

Ashtead Technology Holdings Plc (LON:AT) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 850 ($10.68) and last traded at GBX 833 ($10.46), with a volume of 238310 shares changing hands. The stock had previously closed at GBX 847 ($10.64).

Wall Street Analyst Weigh In

Separately, Berenberg Bank raised their price objective on Ashtead Technology from GBX 700 ($8.79) to GBX 775 ($9.74) and gave the stock a “buy” rating in a research report on Tuesday, April 16th.

Ashtead Technology Price Performance

The stock has a market cap of £665.98 million, a price-to-earnings ratio of 3,966.67 and a beta of 0.32. The company has a debt-to-equity ratio of 38.53, a current ratio of 1.56 and a quick ratio of 1.46. The stock’s 50 day simple moving average is GBX 744.66 and its two-hundred day simple moving average is GBX 633.82.

Ashtead Technology Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 2nd will be given a dividend of GBX 1.10 ($0.01) per share. This is a positive change from Ashtead Technology’s previous dividend of $1.00. This represents a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, May 2nd. Ashtead Technology’s payout ratio is 476.19%.

Insider Buying and Selling

In related news, insider Allan Pirie sold 270,926 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of GBX 791 ($9.94), for a total transaction of £2,143,024.66 ($2,692,242.04). In other news, insider William(Bill) Mervyn FrewCarey Shannon purchased 3,015 shares of Ashtead Technology stock in a transaction on Tuesday, April 16th. The shares were purchased at an average cost of GBX 660 ($8.29) per share, for a total transaction of £19,899 ($24,998.74). Also, insider Allan Pirie sold 270,926 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of GBX 791 ($9.94), for a total transaction of £2,143,024.66 ($2,692,242.04). Company insiders own 2.96% of the company’s stock.

About Ashtead Technology

Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East. It offers survey and robotics equipment comprising geophysical, hydrographic, metocean, land surveying, positioning, ROV sensors, non-destructive testing, subsea inspection, remote visual inspection, and environmental products; mechanical solutions, consisting of subsea cutting, coating removal and cleaning, subsea dredging, ROV and driver tooling, intervention skids, topside support, recovery tools, pumps, reels, ancillary deck equipment, and fabrication solutions; and asset integrity solutions, including imaging and inspection, oceanographic, marine growth removal, monitoring, mooring and riser inspection, environmental monitoring, offshore construction and life of asset monitoring, offshore wind foundation inspection, analysis, 3D imaging and metrology, and remote operations.