NVEI:CC - Where I'd Invest a $10000 Windfall Right Now
2023-07-04 19:15:00 ET
Canadians have passed through tax season as we move into July 2023. That means that many of you may be receiving a financial windfall. Others may have cash stashed away that they now feel free to invest after paying out what they owe. Today, I want to discuss where I’d look to invest a $10,000 financial windfall in the early summer season. In this piece, I want to target a mix of growth stocks and income-yielding stocks that we can dip into right now. Let’s jump in.
This tech stock could make you rich in the years ahead
Nuvei ( TSX:NVEI ) is a Montreal-based company that provides payment technology solutions to merchants and partners in North America, Europe, and around the world. Shares of this tech stock have dropped 1.8% month over month as of late-morning trading on July 4. The stock is still up 14% so far in 2023. Investors can see more of its recent performance with the interactive price chart below.
Investors should be eager to get in on the payment technology solutions space. Polaris Market Research recently valued the global payment processing solutions market at US$74.4 billion in 2021. The same report projected that this market would reach US$192 billion by 2030. That would represent a compound annual growth rate (CAGR) of 10% from 2022 through to 2030.
This company released its first-quarter fiscal 2023 earnings on May 10. Nuvei delivered total revenue growth of 20% to $265 million. EBITDA stands for earnings before interest, taxes, depreciation, and amortization. Nuvei delivered adjusted EBITDA of $96.3 million — up from $91.6 million in the first quarter of fiscal 2022.
Nuvei is on track for strong earnings growth going forward. This is a tech stock that has explosive potential going forward.
Here’s a dirt-cheap REIT that offers a massive yield
Northwest Healthcare REIT ( TSX:NWH.UN ) is a Toronto-based real estate investment trust (REIT) that owns and operates a global portfolio of high-quality healthcare real estate. Shares of this REIT were up 3.34% in late-morning trading on Tuesday, July 4. The REIT is still down sharply in the year-over-year period.
In the first quarter of fiscal 2023, Northwest delivered revenue growth of 29% to $135 million. Meanwhile, total assets under management increased 13% year over year to $10.8 billion. Shares of this REIT are trading in solid value territory compared to its industry peers. Best of all, Northwest offers a monthly dividend of $0.067 per share. That represents a monster 13% yield.
This REIT was trading at $6.49 per share at the time of this writing. That means you could snatch up 513 shares of Northwest for a purchase price of $3,329.37 as part of our $10,000 windfall. This will allow you to generate a monthly income of $34.37.
One more exciting growth stock I’d invest in today
Park Lawn ( TSX:PLC ) is the third and final stock I’d look to snatch up with our $10,000 windfall. This Toronto-based company owns and operates cemeteries, crematoriums, and funeral homes in Canada and the United States. This TSX stock has jumped 1.1% over the past month as of late-morning trading on July 4. Its shares are still down 8.8% so far in 2023.
In Q1 2023, the company delivered revenue growth of 4.3% to $86.7 million. Meanwhile, adjusted net earnings dropped 22% year over year to $8.61 million. Park Lawn saw activity decline year over year as the effects of COVID-19 waned, resulting in a reduced mortality rate. Regardless, this is an industry geared up for big growth, and Park Lawn is a power player with an attractive balance sheet.
Shares of Park Lawn are trading in attractive value territory at the time of this writing. It offers a quarterly dividend of $0.114 per share, representing a 1.8% yield.
The post Where I’d Invest a $10,000 Windfall Right Now appeared first on The Motley Fool Canada .
Fool contributor Ambrose O'Callaghan has positions in Nuvei. The Motley Fool has positions in and recommends Nuvei. The Motley Fool recommends NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool has a disclosure policy .
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