Ashtead (LSE: AHT) is an equipment rental company that offers services in the UK, Canada, and the USA. Their biggest market is the United States.
The group owns several well-known plant hire firms, including PSS Hire and A-Plant in the UK. In the USA, they do most of their business through their subsidiary, Sunbelt Rentals.
Read on to find out more about buying Ashtead Group shares.
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Step 1: Get an account with a broker
Ashtead Group is listed on the London Stock Exchange, which your broker must have access to so you can purchase their shares.
Before settling on a broker, consider the commission they charge on trades, their foreign exchange fee (especially if you want to invest in US and international shares), stock market access, available instruments you can trade, and whether they allow fractional share trading.
Step 2: Fund your trading account
To buy shares, you'll require cleared funds before being able to purchase shares.
You can add funds to your account with a debit card or bank transfer. The broker might also accept credit cards too. However, this is not supported as widely because of the possibility of fraud.
Step 3: Decide how much to allocate
Avoid investing more than you can afford to lose because trading conditions can change rapidly on the stock market.
If you can regularly invest in shares over time, you're less vulnerable to the extreme peaks and troughs that the stock market can experience.
Step 4: Choose whether to invest in shares or an ETF
ETFs (Exchange Traded Funds) are managed and diversified investments consisting of shares in several companies.
The main benefit of investing in an ETF instead of a single share is diversification, making it less risky. Even so, an ETF can still experience price volatility in turbulent markets.
ETFs that hold shares in Ashtead include iShares Core MSCI EAFE ETF (IEFA), Vanguard FTSE All-World ex-US Index Fund ETF Shares (VEU), iShares MSCI EAFE Growth ETF (EFG), and Schwab International Equity ETF (SCHF).
Step 5: Set up your order
Market orders are a simple way to buy shares at the next available market price.
If you want to take a more strategic approach to your investing, you can create an order that is triggered automatically whenever the price of shares reaches a specific level you decide. You can use these to take profit after a period of growth and sell if the market is falling.
Step 6: Buy
When you’re satisfied with your order’s configuration, submit it to buy your shares.
Once you have bought your shares, keep an eye on the market price. Recognising whether the price is rising or falling early will equip you to decide whether to sell or keep your shares.
News stories about the Ashtead Group and their quarterly results and market announcements can help build a picture of their performance as a business.
Being in the services sector, Ashtead’s share price can move up or down with macro trends in the market. When businesses are expanding and investing capital, they tend to require the type of service Ashtead offers.
In a stagnant or recessionary environment where businesses are reluctant to invest in capital-intensive projects or a slow housing market, Ashtead’s sales may contract because of slack demand.
Keeping track of Herc Rentals (NYSE: HRI), Speedy Hire (LON: SDY), and Melrose (LON: MRO) will also help you to keep track of what is going on in the equipment and plant hire industry, and Ashtead’s position in it.
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