Where to Invest $10,000 in March 2024

Got $10,000 to put to work in March 2024? Here’s a four stock mini-portfolio that could drive a strong mix of gains.

| More on:
Businessmen teamwork brainstorming meeting.

Image source: Getty Images

Many Canadian stocks have had a strong recovery in 2024. Yet, you might be surprised that the TSX Index is only up 1.4% for the year.

It simply means that there are still some good deals to be found. If you got $10,000 to invest today, here is a four-stock mini portfolio to consider for March.

Pembina Pipeline stock

It never hurts to have a little bit of income in any investment portfolio. Pembina Pipeline (TSX:PPL) is a solid bet if you want a safe, steady, and outsized dividend yield. Right now, it yields 5.7%.

Pembina operates a diverse mix of crucial energy infrastructure (pipelines, processing, midstream, and export facilities) across Western Canada. With this stock you get energy exposure, but the downside is protected due to its highly contracted earnings streams.

Pembina just announced record results that beat its guidance expectations for 2023. It generated substantial amounts of cash in the year.

Consequently, the energy transportation firm sits with an excellent balance sheet (especially when compared to peers). That provides some very good optionality to grow in 2024. There could be some good upside if it can continue to execute well.


EQB Inc. (TSX:EQB) is another interesting bet if you want a mix of income and value. EQB is known as Canada’s challenger bank because of its digital-first financial and lending platforms. It is Canada’s seventh largest bank.

However, the bank has been making significant strides to become a major player in Canada. In 2023, it increased assets under management by 16% to $119 billion. Revenues increased 27% and adjusted earnings per share rose 12%.

EBQ only pays a 1.65% dividend yield. However, it has grown its dividend by a 20% annualized rate for nearly a decade. Despite its impressive growth, it trades at a discount to the big Canadian banks, so there is room for a valuation re-rating as well.

BRP stock

Another value-play to consider buying in March is BRP (TSX:DOO). It is one the premier manufacturers of all-terrain and marine vehicles. The leader in recreational vehicles has renowned brands like Ski-Doo, Sea-Doo, and Can-Am.

2023 was a tough year for the company. It saw sales pullback considerably more than expected and consequently had to significantly revise its guidance. While the slowdown is concerning, the company has consistently been taking market share from peers.

BRP continues to innovate and has a manufacturing model that captures above average margins. DOO stock is extremely cheap at 7.5 times earnings. It has a history of buying back shares by around 5% a year. If it can continue to that, shareholders should do well even if growth moderates in the near-term.

WSP Global

WSP Global (TSX:WSP) may not be the cheapest stock on this list, but its recent results demonstrate that it is worth owning.

WSP just came out with year-end 2023 results. It grew net revenues by 22% and adjusted net earnings by 24%. Organic revenues were up by 7%. Margins improved by 150 basis points. Backlog hit a new record of $15 billion.

WSP has become a recognized leader around the world for consulting, engineering, design, and project management services. As it scales, it can offer more services to customers. Consequently, the more it scales, the more profitable it becomes.

The demand for infrastructure is huge and that should continue to propel demand for WSP’s services. This stock is a well-managed, strong compounder for a long-term investor.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Robin Brown has positions in Brp and WSP Global. The Motley Fool recommends Brp, EQB, Pembina Pipeline, and WSP Global. The Motley Fool has a disclosure policy.

More on Stocks for Beginners

edit Person using calculator next to charts and graphs
Stocks for Beginners

Where to Invest $7,000 in April 2024

Are you wondering how to deploy the $7,000 TFSA contribution increase in 2024? Here are four high-quality stocks for earning…

Read more »

investment research
Stocks for Beginners

New Investors: 5 Top Canadian Stocks for 2024

Here are five Canadian stocks that might be ideal for a beginner investment portfolio.

Read more »

Dots over the earth connecting the world
Tech Stocks

Hot Takeaway: Concentration in 1 Stock Can Be Just Fine

Concentration in one stock can be alright under the right circumstances, and far better than buying a bunch of poor-performing…

Read more »

tech and analysis
Stocks for Beginners

If You Invested $1,000 in WELL Health in 2019, Here is What It’s Worth Now

WELL stock (TSX:WELL) has fallen pretty dramatically from all-time highs, but what if you bought just before the rise? Should…

Read more »

investment research
Dividend Stocks

5 Easy Ways to Make Extra Money in Canada

These easy methods can help Canadians make money in 2024, and keep it growing throughout the years to come.

Read more »

Solar panels and windmills
Top TSX Stocks

1 High-Yield Dividend Stock You Can Buy and Hold Forever

There are some stocks you can buy and hold forever. Here's one top pick that won't disappoint investors anytime soon.

Read more »

clock time
Stocks for Beginners

This ETF Is Up 16% and Could Be the Best Investment Around

Get access to the global market with the click of a button. This ETF is one of the best ways…

Read more »

ETF chart stocks
Stocks for Beginners

3 Best-Performing Equity ETFs in 2024 Thus Far

If you want big winners from big sectors, consider these three ETFs currently surging already in 2024.

Read more »