Shares of this FTSE 100 firm are still good value for money

Over the last year, the FTSE 100 index has outperformed many other indices.

The outperformance of the FTSE 100 can also continue in the current market. The UK stock market has long gone out of fashion. The combination of negative sentiment and higher performance could mean the FTSE 100 is undervalued.

CRH just announced it is going to leave it London Stock Exchange and try your luck on the New York Stock Exchange instead.

If CRH gets listed on a major US stock exchange, it will no longer be included in the FTSE 100 index.

Most of CRH’s income comes from America. It is also the largest supplier of building materials in the United States. When the company announced earnings and plans to list, the stock rose 10%. I believe the management is probably hoping for CRH to trade at a higher price with the stock exchange listing in New York.

Ferguson has changed its primary listing to US. Flutter Entertainment and WANdisco have also announced that they are eying the primary listing on the other side of the sea.

Are major US listings increasing in value?

It is difficult to say objectively that changing the listing is not good for the stock price. Only when 10 to 20 companies have changed London to New York can it be measured more wisely.

However, if valuations can be raised in this way, the management of FTSE 100 companies may have a fiduciary duty to check this towards their shareholders.

One really Footsie that this will make a lot of sense as well The Ashtead Group (LSE: AHT).

Ashtead also has a lot of income in the US. The company, however, only pledged allegiance to London. A primary listing for Ashtead in America, though, could be a future catalyst for the stock.

Ashtead had good third-quarter earnings and raised its full-year guidance. The stock trades at just 19 times earnings and yields a modest dividend of just over 1%.

Considering there’s only a quarter left in Ashtead’s book year, investors will soon start looking at next year’s price-to-earnings (P/E) ratio. The forward P/E for Ashtead is just 16. Its value is the same as the value of the FTSE 100.

What to buy this ISA season: the FTSE 100 index or the Ashtead?

Clearly, the FTSE 100 is more diversified than a single stock like Ashtead. So the former is safer and also yields higher dividends. So it’s more ‘today’s hour’ for the FTSE 100 index.

Growth, however, was much higher for Ashtead. The company has easily managed double-digit growth this year and in the months ahead. If growth continues, Ashtead may offer more ‘tomorrow hours’.

So I will improve Ashtead’s position this ISA season. High growth with reasonable price prospects is just tempting to ignore…