3 Top TSX Stocks Providing Huge Long-Term Growth to Buy Right Now

Here’s why investors seeking stable and consistent long-term growth may want to check out these three top TSX stocks.

| More on:

With the S&P/TSX Composite Index continuing to touch new all-time highs, investors in Canada have certainly been seeing substantial returns. In a bull market such as this one, high-risk, high-reward plays are being rewarded. Of course, there are a number of top TSX stocks that fit this profile.

That said, those seeking consistent and stable long-term growth may be better off with other top TSX stocks. In this group, I’ve hand-picked three gems that I think are real winners that are creating long-term shareholder value.

Let’s dive in.

Top TSX stocks: Constellation Software

One of the top TSX stocks in terms of long-term growth has historically been Constellation Software (TSX:CSU). This Canadian large-cap stock is a major player in the software space. With a market capitalization of more than $46 billion, Constellation has gotten to this size by no accident.

Indeed, like many other high-growth stocks, Constellation is a growth-by-acquisition play. This company has successfully integrated more than 500 smaller companies into its portfolio. Accordingly, Constellation is an absolute behemoth in the software market globally.

This has been reflected in Constellation’s share price over time. Indeed, I’d invite all investors to check out this tech stock’s long-term stock chart. It’s a thing of beauty.

Until acquisition targets dry up (there are thousands of companies waiting to be bought) and Constellation changes its strategy (very unlikely), this growth is likely to continue. This is one of the top TSX stocks that remains on my top picks list for a reason.

Boyd Group

Similar to Constellation, Boyd Group (TSX:BYD) has grown to an impressive size using an acquisition-first model.

Sure, the auto repair business isn’t sexy. It’s a rather “blah” business that many investors choose to ignore.

However, Boyd has been able to consolidate this sector with impressive success. This has allowed Boyd to not only capture more market share, but start dictating prices in this sector. The margin expansion potential of Boyd as it gets larger makes for an even more intriguing case to own one of the top TSX stocks in the market.

With more than 750 locations in North America, Boyd is certainly growing impressively fast. Should the company be able to pick up the pace of acquisitions over the medium term, there remains a lot of upside with this growth stock.

Toronto-Dominion Bank

A bank as a growth stock? Well, that might be stretching it.

However, when one actually considers the track record of Toronto-Dominion Bank (TSX:TD)(NYSE:TD), perhaps that opinion will change.

TD Bank has shown it’s not afraid to pull the trigger on big deals. This is a company that has impressively grown its footprint in the U.S. to be one of the largest retail banks on the east coast in the last decade.

That’s allowed TD to pay out a dividend for 64 straight years, making this a great income stock as well.

Accordingly, for those seeking both long-term capital appreciation as well as dividend income, TD Bank is a great stock. This company’s total return profile in recent decades has been one of the best on the TSX. And those betting on a company that will be around for a few more decades have a hard time betting against one of the top TSX stocks out there in TD.

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 Chris MacDonald has no position in any stocks mentioned in this article. The Motley Fool owns shares of and recommends Constellation Software. The Motley Fool recommends Boyd Group Services Inc.

More on Tech Stocks

GettyImages-1352607170 (1)
Tech Stocks

Why Shopify Stock Is Skyrocketing Today

Shopify published its Q3 report this morning, and it gave investors plenty to be excited about.

Read more »

young people stare at smartphones
Tech Stocks

Here Are My Top 3 Tech Stocks to Buy Now

Given their strong performances and healthy growth prospects, I expect these three tech stocks to deliver superior returns over the…

Read more »

artificial intelligence AI data deep processing
Tech Stocks

Top 3 Canadian AI Stocks to Watch This Year

When there is as much hype about a specific type of stock (like AI stocks), it's a good idea to…

Read more »

ETF stands for Exchange Traded Fund
Tech Stocks

The Best Tech ETF to Invest $1,000 in Right Now

An ETF can be a solid option for any type of investing. But with tech stocks having a lot of…

Read more »

how to save money
Tech Stocks

Should You Buy Shopify Stock Hand Over Fist Before November 12?

Here are the top reasons why you may want to consider buying Shopify stock before its upcoming earnings event.

Read more »

stocks climbing green bull market
Tech Stocks

Why Propel Stock Keeps Going Up

Propel stock has seen a fivefold increase in its market cap in the last year! But even more is set…

Read more »

a-developer-typing-lines-of-ai-code-while-viewing-multiple-computer-monitors
Tech Stocks

Could Constellation Software Become the Next Berkshire Hathaway?

Constellation Software's (TSX:CSU) capital-allocation strategy is similar to that of Berkshire Hathaway (NYSE:BRK.B).

Read more »

cloud computing
Tech Stocks

3 No-Brainer Tech Stocks to Buy With $1,000 Right Now

These three Canadian tech stocks could be among the best growth opportunities in the market right now.

Read more »