Friday was a bad day for the FTSE 100, which fell 1.31% as investors fretted over a potential US meltdown. Some London-listed blue-chips felt a lot faster than that, including two that have been at the top of my ‘buy’ list for months.
I’ve resisted buying them so far because I decided I was coming too late to the share price party. Have I been given a second chance?
Equipment rental specialist Ashtead Group (LSE: AHT) has had a brilliant millennium. In the 20 years to June 2023, it delivered a total return of 45,532%, with dividends reinvested, according to AJ Bell. That would have turned £10k into a staggering £4.5m.
Ashtead Group
The main driver was its US-based subsidiary Sunbelt Rentals, which now supplies 90% of Ashtead’s total group revenues.
Given today’s market cap of £22.52bn, Ashtead is unlikely to repeat its glory growth days. But I’d still like to own it as a long-term buy-and-hold.
The…
