While it seems almost impossible, the first quarter of 2017 is about ready to be put in the books, and what a quarter it’s been. Stocks have continued the Trump rally almost unabated as investor risk appetite has been buoyed by hopes for significant improvement in the economy, plentiful jobs and most importantly, increases in income. The top firms we cover here at 24/7 Wall Street are fine-tuning their portfolios, and making some final end of quarter changes.

In a new report, UBS makes a big change to the firm’s Quality Growth at a Reasonable Price (Q-GARP) portfolio. This portfolio has consistently outperformed the S&P 500 since inception in 2007, and it offers investors an outstanding portfolio using an initial quantitative screen of stocks based on:

1. Quality metrics: high and stable profitability
2. Growth: high expected earnings growth
3. Valuation: low valuation relative to peers

The final list is a compilation of quality growth stocks that it believes are trading at attractive valuations.

A top wireless tower company that is well-liked Wall Street is the newest addition to the Q-GARP portfolio. American Tower Corp. (NYSE: AMT) is the largest global owner and operator of wireless and broadcast communications towers. Its portfolio includes approximately 100,000 sites in the United States, Latin America, India, Europe and Africa. The core business for the company is leasing space on its wireless towers, primarily to wireless carriers, government agencies and broadband data providers.

On a multiple basis the stock trades cheaper than the competition, and many top analysts around Wall Street feel the growth potential for the company remains among the best in the industry.

American Tower investors are paid a 2.15% distribution. The UBS price target for the stock is $130. The Wall Street consensus is $131. The stock closed Thursday at $115.09 a share.

In addition, here are the top four dividend stocks in the Q-GARP portfolio.

Ameriprise Financial

This top company offers investors solid upside potential and a very nice dividend. Ameriprise Financial Inc. (NYSE: AMP) provides a range of financial products and services in the United States and internationally. The Advice & Wealth Management segment offers financial planning and advice, as well as brokerage services primarily to retail clients through its advisors.

Its Asset Management segment provides investment advice and investment products to retail, high net worth, and institutional clients through unaffiliated third-party financial institutions and institutional sales force. In recent years Ameriprise has recruited heavily from the top Wall Street firms’ ranks.

Ameriprise investors are paid a 2.23% dividend. While the company is also on the UBS Most Preferred List, no price target was available. The consensus price objective is $140.60, and the shares ended trading on Thursday at $134.60.

Colgate-Palmolive

This top dividend payer is a very safe play for investors in consumer staples. Colgate-Palmolive Co. (NYSE: CL) manufactures and sells consumer products worldwide.

The company offers oral care products, including toothpaste, toothbrushes and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners and so on.

Colgate-Palmolive also provides pet nutrition products for everyday nutritional needs, a range of therapeutic products to manage disease conditions and various products with natural ingredients. It markets and sells its pet nutrition products for dogs and cats through pet supply retailers and veterinarians.

Principal global and regional trademarks include Colgate, Palmolive, Speed Stick, Lady Speed Stick, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, elmex, Tom’s of Maine, Sanex, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill’s Science Diet, Hill’s Prescription Diet and Hill’s Ideal Balance.

Colgate-Palmolive investors are paid a 2.17% dividend. UBS has a $70 price target for the stock, and the consensus target price is $73.13. Shares closed most recently at $73.90.

Home Depot

This company remains the undisputed leader in the home improvement retail category. Home Depot Inc. (NYSE: HD) is the world’s largest home improvement specialty retailer, with 2,270 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.

Home Depot stores sell various building materials, home improvement products, and lawn and garden products, as well as provide installation, home maintenance and professional service programs to do-it-yourself (DIY), do-it-for-me (DIFM) and professional customers.

Home Depot could continue to be a benefactor from the huge, ongoing rebuilding efforts across the United States as a result of flooding and tornadoes that have caused extensive damage over the past year. With spring right around the corner, there is always a chance for more storms.

Home Depot investors are paid a 2.4% dividend The $160 UBS price target is compares with the consensus price objective of $156.10. The stock closed Thursday at $148.73 per share.

United Technologies

This is a very diversified company with large government contract exposure, and it is also on the UBS Equity Focus List. United Technologies Corp. (NYSE: UTX) is an industrial that provides high-technology products and services to aerospace industries and building systems worldwide. Its segments are UTC Climate, Otis, Controls & Security, UTC Aerospace Systems and Pratt & Whitney.

Many Wall Street analysts believe the company is strategically positioned to benefit from two megatrends in the long-term: urbanization and commercial aerospace. The company received good news recently as the military and foreign buyers are set to increase purchase of the F-135 Jets. UTC’s Pratt & Whitney division, which builds the F135 engine for the military, earns a superb 22.5% profit margin on its products.

Investors are paid a solid 2.35% dividend. The UBS price target is $123, and the posted consensus target is $118.51. The stock closed most recently at $112.34.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

These top companies are solid ideas for investors looking to maintain equity weightings but who want to avoid stocks that are expensive. All make good sense for growth portfolios with some risk tolerance.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.