WAM to Buy 2 of the Most Compelling ASX 300 Shares

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WAM’s leading investors have identified Maas Group Holdings Ltd (ASX: MGH) and Johns Lyng Group Ltd (ASX: JLG) as two of the most promising ASX 300 Index stocks

According to WAM, Maas is a premier independent Australian provider of construction products, machinery, and services, emphasising the mining, infrastructure, and civil end industries.

The fund manager emphasised the company’s announcement from last month that it will repurchase up to 10 per cent of the outstanding shares of Maas Group Holdings on the open market in the next 12 months.

WAM also said that the company had finalised the $85 million acquisition of Dandy Premix, a Victorian-integrated building supplies company.

“We remain bullish about the future outlook of Maas Group Holdings and look forward to the progress in its acquisition of the commercial development property in Newcastle, New South Wales,” the fund manager said in a statement regarding the ASX 300 share.

In a business update last month, WAM noted that Johns Lyng’s executive director and group chief operating officer, Lindsay Barber, disclosed the sale of four million shares, or roughly 31 per cent of his ownership stake in the company.

However, the fund manager is still “confident in Mr Barber’s commitment to his role as well as in the company’s ability to maintain its earnings guidance for FY23,” according to WAM, even if the share price of Johns Lyng dropped as a result of that news.

According to Johns Lyng, sales revenue for FY23 is predicted to increase by 15.2 per cent to $1.03 billion. In FY22, it is anticipated that earnings before interest, taxes, depreciation and amortisation (EBITDA) will increase by 26 per cent to $105.3 million.

Maas Group Holdings and Johns Lyng Group are well-positioned to take advantage of a recovering economy in Australia. With their stable dividends and impressive share price growth, these two stocks should remain on investors’ radars in 2023.

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