We are still early in the year, so you might be wondering how to use your contribution room with the recent $7,000 TFSA (Tax-Free Savings Account) contribution increase. Canadian stocks are expected to have some swings up and down in March. You can take advantage of the volatility by acting as a contrarian and buying on the dips.
If you want to deploy your 2025 TFSA contribution this month, here are four quality Canadian stocks you might want to add if they get cheaper from a broader market decline.
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A Canadian advisory stock
WSP Global (TSX:WSP) has been delivering very strong results for its long-term shareholders. Its stock is up 236% in the past five years and 488% in the past 10 years.
WSP has defied expectations by delivering a strong combination of acquisition and organic growth. It has made almost 200 acquisitions since its inception. Recent, large acquisitions have significantly expanded its markets and expertise.
Today, it can provide a broad scope of services that span advisory, design, engineering, project management, and asset maintenance. WSP is winning larger, more complex projects. Management sees strong growth and margin improvement in the future.
A real estate stock that is so much more
Colliers International Group (TSX:CIGI) is another Canadian stock worth considering in March. It is up 128% in the past five years. Over the longer term, it has a history of compounding value by a high-teens rate.
This Canadian stock has recently pulled back, and it could present an attractive entry. Colliers has a globally renowned real estate brand. While commercial brokerage is a big part of its business, this can be cyclical.
Consequently, management has worked to significantly diversify its business in stable, recurring business avenues like property management, financing, advisory and consulting, engineering, and asset management. These are high quality platforms that the market has yet to fully value.
Colliers has a highly invested management team with a long-term mindset. As a result, this is a great stock to add to a TFSA if you have an extended investment horizon.
An up-and-coming insurance stock
Another Canadian stock worth adding to a TFSA is Trisura Group (TSX:TSU). Not many people know of this company. Yet, it has delivered an exceptional 179% return over the past five years.
Trisura provides specialty and fronting insurance solutions in Canada and the U.S. It focuses on bespoke solutions that it has specialized expertise underwriting.
The insurer operates an efficient company with a low mid-80s combined ratio and mid-teens returns on equity. Its stock has flatlined while management irons out some kinks from its legacy businesses. The year 2025 appears to be an exciting one with new expansion opportunities, so now may be a great time to add this Canadian stock.
A top Canadian software stock
Descartes Systems (TSX:DSG) is a strong Canadian stock to hold if you are concerned about the threat of U.S. tariffs. It uses its software to help hundreds of companies navigate trade and compliance issues globally. The logistics and supply chain solutions provider tends to get a boost in demand when there is trade or political disruptions.
It also operates the largest logistics network in the world. Greater trade complexity is pushing customers to use its services more.
Descartes has earned strong results for investors in the past. DSG stock is up 240% in the past five years and 765% in the past 10 years.
It has a smart management team, and an excellent balance sheet and record of execution. This stock is almost never cheap, but it is a great addition on any market pullbacks.
