3 No-Brainer Stocks to Buy Now for Less Than $1,000

If you’re looking for companies bound for more greatness, these three no-brainer stocks are easy buys, no matter what the market does in the future.

Amy Legate-Wolfe

Author Bio Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Social Media Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published April 23, 2024 10:30 am EDT

Canadian investors might be a bit on edge these days. Geopolitical tensions and economic uncertainty have made it a bit rough when it comes to investing. But there are still strong deals to be had — especially when it comes to investing in companies that do well pretty much no matter what.

Today, we’re going to look at three no-brainer stocks you can buy no matter the economic climate. Now, let’s get into them.

bulb idea thinking — Image source: Getty Images

Topicus

First up is Topicus (TSXV: TOI), and while this is a newer company, there is certainly a big reason to consider this stock. The technology company is known for providing innovative software solutions primarily in the public sector, healthcare, education, and financial services industries.

Topicus has grown into a prominent player in the European tech scene. The company’s mission is to create digital solutions that empower organizations to streamline their operations, enhance efficiency, and improve service delivery.

Yet the big part here? The company grows through acquisitions and is backed as a spinoff of Constellation Software. Yet, while Constellation stock costs about $3,600 as of writing, Topicus stock costs just $118. That makes it a strong investment you can look forward to earning from for decades to come.

Hydro One

Another company to consider on the TSX today is Hydro One (TSX: H). Hydro One stock has been a big winner within the last decade. The utility company has seen its shares rise higher and higher as an essential service. However, there is more immediate growth than what you might see from other utility companies that have been on the market for some time.

While it might be new on the market, the company originally came on the scene back in 1906! Now playing a crucial role in supplying electricity to homes, businesses, industries, and more across Ontario. In fact, historically, Hydro One was owned entirely by the government of Ontario.

However, in 2015, the government initiated the process of partially privatizing the company through an initial public offering (IPO). As a result, a portion of Hydro One’s shares were sold to private investors while the government retained a significant ownership stake. Now you can pick it up with shares up 12% since the market bottom in October and a 3.14% dividend yield.

FirstService

Another strong stock to consider is FirstService (TSX: FSV). The North American company that provides essential property services, primarily in the real estate and property management sectors. FirstService operates through two main business segments: Residential and Brands.

The residential segment provides residential property management services, including condominium and homeowner association management, rental property management, and other related services. FirstService Residential is one of the largest residential property management companies in North America, serving over 8,000 communities across the United States and Canada.

Meanwhile, the Brands segment includes various property services businesses that offer essential services to both residential and commercial properties. These services include property restoration, commercial cleaning, painting, and handyman services, among others. And with shares up 4% in the last year, it’s another no-brainer you can hold for years to come.