In order to receive a dividend, you must own the ASX share before its ex-dividend date.

As we've reported, some of the biggest dividend increases among ASX mining shares this season came from the gold miners.

Next week, two of them go ex-dividend.

Ramelius Resources Ltd (ASX: RMS) shares will pay a fully-franked interim dividend of 3 cents per share on 15 April.

This exceeds the company's commitment to pay a minimum annual dividend of 2 cents per share for FY26.

Ramelius Resources reported a 13% increase in EBITDA to $347.7 million but a 6% fall in net profit after tax (NPAT) to $160 million.

The ASX gold share goes ex-dividend on Monday.

Capricorn Metals Ltd (ASX: CMM) shares will pay a maiden fully franked interim dividend of 5 cents per share.

The gold miner reported a 130% jump in underlying NPAT to $144.8 million for 1H FY26.

The ASX gold share also goes ex-dividend on Monday.

Here is a sample of the other ASX All Ords shares with ex-dividend dates next week.

ASX shares about to go ex-dividend

The post 26 ASX shares with ex-dividend dates next week appeared first on The Motley Fool Australia.

What did Auckland International Airport report?

• Total revenue rose 4% to $519.6 million.
• Operating EBITDAFI increased 6% to $371.3 million.
• Net underlying profit after tax climbed 6% to $157.1 million.
• Reported profit after tax (including revaluations) fell 5% to $177.0 million.
• Passenger numbers were up 2% to 9.64 million.
• An interim dividend of 6.50 cents per share (fully imputed) will be paid on 2 April 2026, totalling $110.2 million.

What else do investors need to know?

Auckland Airport continued its strong investment programme, delivering key aeronautical infrastructure such as a 250,000m² airfield expansion and making steady progress on the new domestic jet terminal, on track for completion in 2029. The company highlighted smoother operations for travellers, with airport processing times noticeably improved thanks to new technology and border agency collaboration.

New international routes and expanded airline services have helped boost connectivity, notably the launch of China Eastern's Shanghai–Auckland–Buenos Aires service. In the domestic market, seat capacity is up, leading to lower average jet fares and greater competition.

The commercial property business remains resilient, with a 99% occupancy rate and continued demand despite softer conditions for new developments. The company's retail and parking businesses delivered mixed results, but commercial rent roll and premium outlet sales grew year on year.

What did Auckland International Airport management say?

Chief Executive Carrie Hurihanganui said:

The service places Auckland Airport at the heart of the world's longest direct flight, delivering an estimated $110 million in benefits to New Zealand's economy annually.

What's next for Auckland International Airport?

Looking ahead, Auckland Airport expects the positive momentum in aeronautical and commercial activity to continue in the second half. The company has narrowed its underlying profit guidance for FY26 to between $295 million and $320 million, reflecting confidence in ongoing passenger recovery and network growth.

Capital investment is expected to range from $1.0 billion to $1.2 billion, focused on major longer-term projects including the domestic terminal and commercial developments. Management is also watching for any wider market or regulatory impacts but remains committed to delivering operational improvements and enhanced traveller experiences.

Auckland International Airport share price snapshot

Over the past 12 moths, Auckland International Airport shares have declined 4%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.

View Original Announcement

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The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

AIA's share price peaked in late January at $7.98 per share and has since shed 8.93%. After several months of fluctuations, the latest spike has seen AIA's shares rise 4.24% over the past month. 

For context, the S&P/ASX 200 Index (ASX: XJO) is 9.12% higher for the calendar year, and 1.12% higher over the past month.

On the NZX, AIA shares are 1.26% higher at the time of writing and are changing hands for NZ$8.01 each.

Now, in a note to investors, Macquarie Group Ltd (ASX: MQG) has updated its guidance on AIA shares.

Upside ahead for AIA shares

Macquarie has maintained its outperform rating on AIA shares and has confirmed its 12-month target price of NZ$8.75, up from NZ$8.55 in July.

That represents a potential upside of 6.8% for investors over the next 12 months, at the time of writing.

"Outperform. Passenger volumes continue to recover towards pre-COVID levels, with PSE5 pricing and non-aeronautical revenue opportunities providing appealing leverage to the pax volume recovery," the broker said in its note to investors.

What else does Macquarie have to say about the ASX 200 stock?

In the note, Macquarie analysts explain that Air New Zealand has been on a campaign to orchestrate a change in the NZ airport regulatory framework. 

This has ranged from "aggressive lobbying of Government Ministers and departments", to direct communication to ComCom, and even legal action (although not a Judicial Review). But this week, ComCom rejected the call for an airport regulation inquiry.

"As part of the review, ComCom has considered the merits of initiating a Section 56G inquiry under the Commerce Act 1986 and concluded that it will not do so at this time," Macquarie said.

"This is because of the high-cost nature of this process, and the lack of flexibility of any resulting regulatory changes, which it thought would likely result in over-regulation across the regulated airport sector."

And the decision is a win for New Zealand airports such as AIA because it gives better regulatory certainty.

"We believe that AIA has undergone a prolonged period of regulatory uncertainty. However, while we expect some changes in the ID regime around major capex review, we believe that after the MBIE and ComCom reviews, investors can have heightened confidence in the regulatory framework for PSE5 and beyond," the broker added.

The post Flying higher: Macquarie predicts robust upside for this ASX 200 industrials stock appeared first on The Motley Fool Australia.

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With the August reporting season in the rearview mirror, dozens of companies have ex-dividend dates next week.

Here's a sample of the ASX shares going ex-dividend soon.

23 ASX shares going ex-dividend next week

How to make ex-div dates work for you

To receive an ASX company's next dividend, you must buy or already own the shares before the ex-dividend date.

If you're interested in buying a stock trading cum dividend, you have two options.

Buy it before the ex-dividend date, and earn a quick return with the upcoming dividend payment.

Alternatively, buy the stock on its ex-dividend date, when it will likely trade lower because the dividend entitlement is no longer attached.

We've seen examples of this recently, with CSL Ltd (ASX: CSL) shares dropping 2.15% on their ex-dividend date.

TV network owner Nine Entertainment Co Holdings Ltd (ASX: NEC) plummeted 36% yesterday after going ex-dividend, too.

Sometimes there are exceptions, like we are seeing with WiseTech Global Ltd (ASX: WTC) shares today.

The post 23 ASX shares with ex-dividend dates next week appeared first on The Motley Fool Australia.

In determining which sector did best last week, the measure of success was simply which one fell the least.

That was industrials, which slipped 0.53%. The industrials sector is considered a defensive play for investors.

The materials sector was the second-best performer, down 0.73%.

ASX 200 materials stocks were supported by the gold price surging to a new record high of US$3,593.20 per ounce during the week.

The benchmark S&P/ASX 200 Index (ASX: XJO) lost 1.14% of its value over the five trading days. It closed out the week at 8,871.2 points.

IG market analyst Tony Sycamore blamed surging bond yields for the ASX 200's decline.

Sycamore said (courtesy news.com.au):

The decline is primarily driven by surging bond yields and the return of the bond vigilantes, fuelled by concerns over large fiscal deficits, central banks cutting rates into persistent inflation and President Trump's dovish reshaping of the US Federal Reserve.

Better-than-expected Australian GDP growth in the June quarter likely also contributed to the sell-off, as it reduced the case for a rate cut.

Let's look at how the ASX 200 industrial sector's biggest companies performed last week.

Industrials led the ASX 200 sectors last week

The industrials sector's largest stock, Transurban Group Ltd (ASX: TCL), fell 1.58% to finish at $14.37 per share on Friday.

The Brambles Ltd (ASX: BXB) share price lifted 2.35% to close at $26.56.

Computershare Ltd (ASX: CPU) shares fell 1.86% to $37.46.

SGH Ltd (ASX: SGH) shares lost 2.18% to close at $49.41 on Friday.

ASX 200 airline share Qantas Airways Ltd (ASX: QAN) rose 0.85% to $11.85.

Auckland International Airport Limited (ASX: AIA) shares lost 0.15% to $6.82.

The ALS Ltd (ASX: ALQ) share price rose 1.18% to $18.81.

Worley Ltd (ASX: WOR) shares lost 0.2% to close at $14.66 on Friday.

Qube Holdings Ltd (ASX: QUB) shares tumbled 2.38% to $4.10.

The Reece Ltd (ASX: REH) share price fell 6.63% to close out the week at $10.42.

Cleanaway Waste Management Ltd (ASX: CWY) shares declined 0.72% to $2.76 per share.

Aurizon Holdings Ltd (ASX: AZJ) shares fell 1.85% to $3.18.

Downer EDI Ltd (ASX: DOW) shares fell 3.73% to $6.96 apiece.

The Ventia Services Group Ltd (ASX: VNT) share price dropped 4.41% to $5.20.

The Austal Ltd (ASX: ASB) share price lifted 5.28% to $8.18.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

Looking for investment inspiration?

Check out Macquarie's top ASX 200 share picks in each of the 11 market sectors post-earnings season.

The post Every ASX 200 sector closed in the red last week. Here's why appeared first on The Motley Fool Australia.

More specifically, the Ministry of Business Innovation and Employment (MBIE) has been conducting a review of airport regulation services in the country.

But what on earth has this got to do with the ASX?

As it turns out, this government review directly impacts a leading ASX 200 industrials business.

And a key development announced this week had its shares flying.

Tell me more

Auckland International Airport Ltd (ASX: AIA) is New Zealand's largest and busiest airport.

It caters to more than eight million domestic passenger movements annually and is served by four airlines across 23 destinations.

It also accounts for more than 10 million international passenger movements each year, with 69% of all foreign visitors to New Zealand first arriving at this airport.

In April, MBIE launched a review of airport regulations just three weeks after New Zealand's Commerce Commission gave Auckland International the tick of approval for an upgrade.

For this review, MBIE allowed related parties to provide their viewpoints on the regulation of airport services in the nation.

To cut a long story short, this regulatory evaluation created doubt about the airport's operations.

But news from this week appears to have delivered some clarity.

What happened this week?

MBIE provided an update to parties who made submissions on the effectiveness of the economic regulation of airport services in New Zealand.

Here, it advised that legislative changes are not being considered for the time being.

And Auckland International now believes the MBIE review process to be complete.

In turn, the company's shares jumped sharply, rising from $6.78 each at the close of trading on Wednesday to $7.07 apiece by Thursday's close.

This represents a jump of 4.28%.

For context, the S&P/ASX 200 Index (ASX: XJO) was up by 0.9% during this period.

However, Macquarie Group Ltd (ASX: MQG) believes there could be more fuel left in the tank for Auckland International's share price.

What is Macquarie saying?

The broker has now placed an overperform rating on Auckland International, citing the regulatory review outcome as one of the key catalysts for its decision.

It also noted that passenger volumes continue to recover towards pre-COVID levels, with non-aeronautical revenue opportunities providing further appeal for the company.

As such, Macquarie sees potential for further share price appreciation for Auckland International.

However, it is important to note that the company's primary reporting currency is New Zealand dollars.

So, Macquarie has placed a 12-month share price target of NZ$8.55, up from NZ$7.46 on Wednesday.

This equates to a healthy 15% ascent for the airport's shares.

The post Macquarie tips 15% upside for this ASX 200 industrials stock appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:

Auckland International Airport Ltd (ASX: AIA)

The Auckland International Airport share price is up 4.5% to $7.09. Investors have been buying the airport operator's shares after it released an update. According to the release, the Ministry of Business Innovation and Employment (MBIE) has advised that it is not considering legislative change in respect to "the effectiveness of the economic regulation of airport services under Part 4 of the Commerce Act 1986."

Australian Ethical Investment Ltd (ASX: AEF)

The Australian Ethical share price is up 3% to $6.42. This follows the release of a fourth quarter and full year update from the fund manager. Australian Ethical revealed that it achieved a 34% increase in funds under management (FUM) to a record high of $13.94 billion in FY 2025. Commenting on its performance, the company's CEO, John McMurdo, said: "Our strong fourth quarter result, and our full year FUM growth of 34% reflects the ongoing disciplined execution of our strategy as well as the resilience of our ethical investment approach in the face of challenging economic and geo-political cycles."

Breville Group Ltd (ASX: BRG)

The Breville Group share price is up 3% to $30.65. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has upgraded this appliance manufacturer's shares to a buy rating with an improved price target of $35.50. UBS made the move after looking at the global coffee machine market. It feels that the stage is set for Breville to grow its sales materially over the next decade. Especially given its significant opportunity in new markets.

Clarity Pharmaceuticals Ltd (ASX: CU6)

The Clarity Pharmaceuticals share price is up 4% to $3.55. This morning, this radiopharmaceutical company announced that the Co-PSMA (NCT06907641) Investigator-Initiated Trial (IIT) led by Prof Louise Emmett at St Vincent's Hospital Sydney has now completed its study enrolment and all participants have been imaged. Clarity's executive chair, Dr Alan Taylor, said: "We are excited about this important milestone in the Co-PSMA trial and the development program of 64Cu-SAR-bisPSMA. With mounting data of the benefits that 64Cu-SAR-bisPSMA could offer compared to SOC diagnostic imaging, demonstrated in the PROPELLER and COBRA trials, we eagerly anticipate the results from this head-to-head trial against 68Ga-PSMA-11."

The post Why Auckland Airport, Australian Ethical, Breville, and Clarity shares are charging higher appeared first on The Motley Fool Australia.

AIA cut its fees effective from 1 July 2025 after New Zealand's Commerce Commission (ComCom) noted it was charging airlines too much to use the airport. The regulator claimed the business was earning around $150-$227 million more than it should.

Auckland Airport is the largest in New Zealand. In pre-COVID fiscal 2019, it handled 21 million passenger movements, or approximately 70% of the country's international visitors. 

This afternoon, AIA shares are trading just 0.63% lower at $7.145, and have risen 2.21% over the week. 

The airport has posted a 3.1% gain over the year despite fluctuations in value.

Between November 2024 and late January, AIA's share price jumped 22.2%. Within a month, it dropped 10.27%.

Despite the volatility, analysts at Macquarie Group Ltd (ASX: MQG) hold a positive position on the stock. 

Here's what the broker had to say.

Growth expected but headwinds ahead

Macquarie maintains its outperform rating on AIA stock but has revised its target price to NZ$8.55, down from NZ$8.63, due to expected nonaeronautical headwinds.

The new target price represents a potential 12% upside.

"Passenger volumes continue to recover towards pre-Covid levels, with PSE5 pricing and non-aeronautical revenue opportunities providing appealing leverage to the pax volume recovery," the broker said in a note to investors.

AIA has provided FY25 adjusted net profit after tax guidance of $290 million to $320 million and is due to announce its FY25 result on 21 August.

The broker lowered its FY26/FY27E EPS to 3% and 4%, respectively, to reflect nonaeronautical headwinds. Retail is expected to be impacted by the domestic jet terminal integration project and 600 fewer car parking spaces due to the expansion of the regional airfield.

"Since AIA released its PSE4 passenger forecasts, a combination of subdued macroeconomic conditions, geopolitical uncertainty and most significantly, Air New Zealand's engine issues that have caused ~20% of the airlines jet fleet to be grounded, have resulted in actual FY24/ FY25 passenger volumes being well below forecast, and the growth outlook for the balance of PSE4 having been lowered," the broker said.

"AIA is set to exit FY25 with international pax growth of ~3%, a run rate that we expect to be maintained in FY26E.

"Domestic growth rates are expected to improve in FY26, consistent with increased capacity returning to Domestic routes as Air NZ's engine issues are resolved."

The post How much upside does Macquarie expect for Auckland International Airport shares? appeared first on The Motley Fool Australia.

However there are there are key changes to pricing at the airport and Broker Macquarie has analysed what it could mean for this industrials stock moving forward. 

Auckland Airport is New Zealand's largest airport, handling 21m passenger movements in pre-covid fiscal 2019, approximately 70% of the country's international visitors. 

It also owns approximately 1,300 hectares of land, and hosts ancillary commercial services, including retail and duty-free, car parking, hotels, warehouses, and offices. 

Important updates at Auckland International Airport

Essentially, AIA has been told by New Zealand's Commerce Commission (ComCom) that it was charging airlines too much for using the airport.

The regulator looked at how much return AIA should be making — a fair return based on the cost of doing business, known as the WACC (Weighted Average Cost of Capital).

ComCom said AIA was earning more than it should, by around $150–$227 million.

How has AIA responded?

AIA agreed to lower its prices, so it's no longer over-earning.

AIA will cut the fees it charges airlines in the next two years (FY26 and FY27). These are called aeronautical charges.

Average reductions:

• Regional flights: down $1.08 per passenger.
• Domestic jet flights: down $1.74 per passenger.
• International flights: down $4.86 per passenger.

These changes take effect from 1 July 2025.

What did Macquarie have to say?

According to the broker, it expects a small profit boost in FY26, with a bit of a pullback in FY27. But overall, this is seen as a responsible adjustment to meet regulatory expectations.

AIA responded with alacrity, consistent with previous public statements that it would amend aeronautical pricing if the final report deemed it to be over-earning.

AIA has indicated that it would discount the pricing schedule by an average of ~11% in each of FY26 and FY27, targeting a total return over PSE4 of 7.82%. Macquarie adjusted its forecasts to reflect this linear price discounting.

It's important to note that its primary reporting currency is NZD.

When issuing target prices, analysts usually use the company's base currency for consistency with its financial reporting, earnings, and valuation models.

The report included an "outperform" rating and updated price target of NZD $8.63. 

Auckland International Airport shares are currently trading at NZD $7.76, which indicates an upside of 11.21% over the next 12 months.

The post What does Macquarie think Auckland International Airport shares are worth? appeared first on The Motley Fool Australia.

According to the ASX's RBA Rate Tracker, which measures what traders in the bond market are currently pricing in, investors reckon there is a 62% likelihood of the RBA cutting rates by a jumbo 50 basis points on 20 May. That would reduce the cash rate from the current 4.1% to 3.6%.

Now, that might sound like manna from heaven for anyone who is currently servicing a mortgage, particularly considering the steep cycle of rate hikes that Australians endured between 2022 and 2024. This saw the cash rate climb from the COVID-induced 0.1% in April 2022 all the way up to 4.35% by November 2023. So another cut or two on top of the 25-point reduction from February of this year would no doubt be welcomed.

But what would an interest rate cut mean for ASX shares, particularly infrastructure stocks? That's what we'll be diving into today.

Now, theoretically, interest rates have a meaningful impact on the valuations of all ASX shares, as they do with all assets that produce cash flow. However, infrastructure stocks are particularly sensitive to interest rates, given that investors are usually attracted to these stocks due to their predictable cash flows and, by extension, dividends.

Put another way, the kinds of investors who tend to buy infrastructure stocks often do so because they have a strong conviction in that stock's reliability as an investment. If it trades on a dividend yield of, say, 3%, investors assume that's what they'll get.

Why are ASX infrastructure stocks sensitive to interest rates?

Now, if interest rates rise and a government bond offers an improved 3% interest rate, those investors might choose to buy that bond instead, given the returns are, at least in theory, 'risk-free'.

Those investors will probably only now buy that infrastructure stock over the government bond if the stock offers a higher dividend yield.

As such, infrastructure stocks tend to fall in value when interest rates rise to give investors that higher yield. But they also tend to rise in value when interest rates fall, for the opposite reason.

Prominent infrastructure stocks on the ASX include Transurban Group (ASX: TCL), Atlas Arteria Group (ASX: ALX), and Auckland International Airport Ltd (ASX: AIA).

All of these companies qualify as infrastructure stocks. Transurban and Atlas Arteria are both toll road operators, while Auckland Airport is, well, an airport. These businesses do indeed enjoy highly reliable revenue streams, and can thus pay reliable dividends to their investors.

So if interest rates start falling again in 2025, I would expect the values of these companies to begin to rise. There's a reason all three have been lacklustre investments over the past few years, given how much interest rates have risen. But perhaps the RBA's meeting next month will change that. Let's wait and see.

The post Will lower interest rates boost ASX infrastruture stocks? appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The definition of a market correction is a major index falling 10% from the most recent peak.

The ASX All Ords' most recent closing high was 8,825.1 points on 14 February.

Today, the All Ords is at 8,005.4 points, up 0.49% for the day and down 9.31% since the peak just one month ago.

The fall can be largely attributed to market uncertainty over how the US tariffs will impact global trade, economic growth, and inflation.

So, with capital growth prospects looking pretty grim right now, dividends may be at the forefront of investors' minds.

Following last month's earning season, a bunch of ASX shares will begin trading ex-dividend next week.

If you want to catch any of these dividend payments, you have to buy the relevant stock before it goes ex-dividend.

The Fool does not advocate buying ASX shares purely for their next dividend.

But if you've been watching any of these stocks for a while, and they pass your fundamental analysis test, then perhaps you might like to take advantage of market weakness and pick them up for a bit less while also qualifying for the next dividend payment.

So, here is a sample of ASX shares going ex-dividend next week.

21 ASX shares going ex-dividend next week

The post 21 ASX shares going ex-dividend next week appeared first on The Motley Fool Australia.

The industrials sector typically performs well when the economy is expanding, which is not the case today.

In fact, the Australian economy has pretty much ground to a halt.

The latest gross domestic product (GDP) data from the Australian Bureau of Statistics shows only a 0.3% rise in the September quarter and a 0.8% increase over 12 months.

Despite this, industrial stocks outperformed the benchmark S&P/ASX 200 Index (ASX: XJO) in terms of share price growth last year.

Industrial stocks rose by 11.37%, while the ASX 200 lifted by 7.49%.

So, what does that all mean for industrials dividends in 2025?

2025 dividend forecasts for ASX 200 industrials shares

Let's take a look at the forecast 2025 dividend yields for ASX 200 industrials shares.

For the purposes of this article, we'll focus on the top 10 industrials shares by market capitalisation.

The following chart shows the dividend amounts paid by the industrials shares last year.

Next to that is the consensus analysts' forecasts for 2025 dividends and the yields they represent based on share prices at the time of writing.

These forecasts have been published on the CommSec trading platform.

These ASX 200 industrials shares are listed in order of market cap from largest to smallest in the group.

As you can see, Transurban is the ASX 200 industrials share expected to pay the highest dividend yield this year.

Not only that, it is also the only stock expected to pay a dividend yield above the ASX 200 index average of 4%.

What do the experts say?

ASX mining shares and bank stocks have long been the favourite ASX dividend shares for income investors.

However, given a raft of issues relating to these two particular types of stocks, this may change in 2025.

Last week, listed investment company (LIC) Djerriwarrh Investments Ltd (ASX: DJW) told shareholders it had changed its shares investments to ensure it achieves the high ASX dividend income it targets.

Djerriwarrh's goal is to provide an enhanced level of fully franked income from ASX dividend shares.

In a presentation lodged with the ASX on Thursday, the LIC said:

Our portfolio adjustments mean that our dividend income is more reliant on the major miners and industrial companies such as supermarkets and telcos.

We are significantly less reliant on the major banks for our dividend income.

Djerriwarrh's reference to industrial companies here may be confusing, given the examples of supermarkets, which belong to the ASX consumer staples sector, and telcos, which are ASX communications shares.

So, let's clarify what the word 'industrials' means in the finance world.

On the ASX, 'industrials' is one of 11 specific market sectors under the Global Industry Classification Standard (GICS).

But in business, the word 'industrials' describes a very broad range of companies engaged in the production of goods and services across many different industries.

For the record though, Djerriwarrh does hold several ASX 200 industrials sector shares.

Among the LIC's top 20 holdings are Transurban, Auckland Airport, and Computershare shares.

The post Which ASX 200 industrials share will pay the best dividend yield in 2025? appeared first on The Motley Fool Australia.

Fund manager Airlie Funds Management still believes in the long-term potential of the company, which is a global provider of enterprise software to utilities and airports around the world.

Gentrack's clients include Sydney Airport, Auckland International Airport Ltd (ASX: AIA), London Gatwick, Christchurch Airport, Bristol Airport, Npower, SSE, Dodo, Vocus, Amber, London Stansted, Manchester Airport and Red Energy.

Airlie says that the utilities side of the business accounts for most of its value. Gentrack's software handles customer information, billing, data, and energy management.

Why Airlie likes Gentrack shares so much

The fund manager likes businesses that sell mission-critical enterprise software, which typically sees very low customer churn due to how "costly and disruptive" it can be for customers to switch.

Software upgrades can cost between $50 million and $250 million and take a year or two to implement.

This means the revenue of the ASX 300 tech stock is predictable and annuity-like, making it very durable compared to most of the software industry.

Will Granger, portfolio manager at Airlie, explained why Gentrack has a significant opportunity to capture market share in the coming years:

The opportunity… lies in the fact that the energy transition is vastly increasing the complexity of the energy grid. Historically, energy grids were largely characterised by centralised power generation and one-way distribution.

However, the grid is becoming increasingly decentralised, with assets like solar panels, EVs and batteries enabling consumers to generate, store, and buy and sell energy off the grid.

This vast increase in the complexity of the grid means that the software many of these utilities are operating on – some of which is 20 to 25 years old – is no longer fit for purpose and needs to be upgraded.

Granger said some energy grids — particularly in Gentrack's core markets of Australia, New Zealand and the United Kingdom — were further along in this transition than others.

In these markets, SAP and Oracle have ceded significant market share to the specialist providers. If this trend serves as a proxy for other global markets, there is a substantial market share opportunity ahead of Gentrack.

Management team

Airlie is also attracted to the leadership team at the ASX 300 tech stock.

Granger highlighted that CEO Gary Miles had "an impressive track record in enterprise software, having run and sold two separate enterprise software businesses, one of which he co-founded".

The Airlie expert pointed out that Gentrack's chief technology officer held the same role at cloud accounting software business Xero Ltd (ASX: XRO).

Why is this a good time to invest in this ASX 300 tech stock?

Airlie noted that the FY24 result was "particularly encouraging," with the company seeing "strong profit margin expansion" on an underlying basis. This gives the fund manager more confidence in its belief that profit margins can recover.

Granger noted that Gentrack shares are now trading at approximately 33x Airlie's forecast for FY25 operating profit (EBITDA), but its profit margins "remain depressed versus history".

If the company's profit margin recovered back to historical levels of around 30%, the EBITDA multiple drops to "just 19x". Granger thinks this "looks attractive relative to the market share opportunity ahead of the business as well as other software peers."

The Airline fund manager concluded its positive thoughts on the ASX 300 stock with the following:            

While we do not expect margins to fully revert to historical levels in the near term, this underscores the potential operating leverage that lies ahead. Consequently, we continue to see compelling long-term value in Gentrack, and it remains a core holding in the fund.

The post The ASX 300 tech stock up 80% in a year that still offers 'compelling long-term value' appeared first on The Motley Fool Australia.

But neither asset class finished the month in the green. In fact, the median national dwelling value fell for the first time in almost two years, according to CoreLogic data.

The S&P/ASX 200 Index (ASX: XJO) started the month well, hitting a new all-time record high of 8,514.5 points on 3 December. But then it tumbled, losing 3.28% in value by the closing bell on 31 December.

Last month's weak performance followed a strong 3.38% gain in November for ASX 200 shares.

Meantime, the median national home value fell by 0.1% as buyer demand weakened amid higher supply.

CoreLogic said the first decline in 23 months marked the end of a surprisingly strong and resilient period of growth despite high interest rates, cost-of-living pressures, and reduced borrowing capacity.

Shares vs. property: What happened in the final month of 2024?

The mid-sized cities of Perth, Adelaide, and Brisbane continued their value ascension but at a slower pace.

Perth, Adelaide, and Brisbane recorded median home price gains of 0.7%, 0.6%, and 0.5%, respectively.

Home values fell by (0.6%) in Sydney, (0.7%) in Melbourne, and (0.5%) in both Hobart and Canberra.

Tim Lawless, CoreLogic's research director, said:

This result represents the housing market catching up with the reality of market dynamics.

Growth in housing values has been consistently weakening through the second half of the year, as affordability constraints weighed on buyer demand and advertised supply levels trended higher.

Let's review the numbers.

Shares vs. property: Here are the numbers for December

Top 5 risers of the ASX 200 last month

Here are the five best-performing ASX 200 shares of the month based on share price growth.

Why did the De Grey Mining share price go 16% higher?

Last month, the ASX 200's biggest gold miner, Northern Star Resources Ltd (ASX: NST), lobbed a $5 billion takeover offer at De Grey Mining, which it accepted.

The companies have entered into a binding scheme implementation deed. This will see Northern Star acquire 100% of De Grey Mining shares via a court-approved scheme of arrangement.

De Grey Mining shareholders will receive 0.119 new Northern Star shares for each De Grey share held.

As my colleague James reported, the deal implied an offer price of $2.08 per share for De Grey Mining, which was a 36.8% premium at the time.

News of the deal sent De Grey Mining shares skyrocketing 29.61% to a 17-year high of $1.99 on the day of the announcement. De Grey Mining shares finished the month at $1.77 per share.

The post How ASX shares vs. property performed in December appeared first on The Motley Fool Australia.

Meantime, the materials sector was pummelled, recording a 4.83% loss over the five trading days.

The S&P/ASX 200 Index (ASX: XJO) fell heavily, losing 2.47% of its value to close at a three-month low of 8,067 points on Friday.

This represents a stark demise since the benchmark index set a record high of 8,514.5 points on 3 December. Since then, the ASX 200 has tanked by 4.38%.

The United States Federal Reserve put a dampener on investor sentiment last week.

While it cut interest rates by 25 basis points to a range of 4.25% to 4.5%, Fed chair Jay Powell said he anticipated only two cuts in the new year instead of a previously forecast four cuts.

This is due to a growing economy in which inflation is beginning to move "sideways" rather than further down.

Let's take a look at what happened last week.

Industrials led the ASX sectors last week

The industrials sector's largest stock, Transurban Group Ltd (ASX: TCL), gained 5.65% last week to finish at $13.47 per share on Friday.

The Brambles Ltd (ASX: BXB) share price lost 0.88% to close at $19.07.

Computershare Ltd (ASX: CPU) shares lifted 0.72% to $33.58.

SGH Ltd (ASX: SGH) shares lost 2.9% to close at $44.91 on Friday.

Reece Ltd (ASX: REH) fell 3.92% to close out the week at $22.78.

Qantas Airways Ltd (ASX: QAN) shares fell 1.64% to finish at $8.72 per share. Last week, the company announced a $120 million settlement package for the illegal sacking of ground crew during COVID.

Fellow ASX 200 airline share, Auckland International Airport Limited (ASX: AIA), rose 0.88% to $7.42.

The ALS Ltd (ASX: ALQ) share price rose by 0.72% to $15.25.

Worley Ltd (ASX: ING) gained 1.59% to $13.42 per share.

Qube Holdings Ltd (ASX: QUB) rose by 0.78% to $3.88 per share.

Cleanaway Waste Management Ltd (ASX: CWY) declined by 1.83% to $2.68 per share.

Aurizon Holdings Ltd (ASX: AZJ) shares fell 1.97% to $3.24 apiece.

The Ventia Services Group Ltd (ASX: VNT) share price rose 3.47% to $3.58. The gain was due to news that Ventia will expand its longstanding partnership with Telstra Group Ltd (ASX: TLS).

NRW Holdings Limited (ASX: NWH) lifted 2.02% to $3.79 per share.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post Here's how the ASX 200 market sectors stacked up last week appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.