How I'd invest $3,000 in growth stocks today

I'm always looking to build my portfolio.

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I'm always looking to build my portfolio by adding quality shares to it. Quality can mean many different things. It could mean its previous record of improving its profit year after year, it could mean its management, it could mean its future potential or it could mean its return on equity among other things.

Here's three businesses that I think are quality that I'd like to add shares of to my portfolio:

Ramsay Health Care Limited (ASX: RHC)

Ramsay has an excellent history of improving profit, effective management and good potential. I like Ramsay because it taps into the ageing demographic theme and should benefit as more patients head to its hospitals over time.

A core reason why I think Ramsay makes a good investment for an Aussie investor is that a lot of its revenue is generated overseas, meaning it provides good geographical diversification for a portfolio.

Ramsay is currently trading at 23x FY18's estimated earnings.

REA Group Limited (ASX: REA)

REA Group also ticks the boxes of improving profits, effective management and good potential. It is the clear property website leader in Australia, which has the pleasing effect of almost guaranteeing property vendors and potential buyers go to its site first, keeping it at the top spot. It also means it can implement strong price increases without much negative effect.

The company has expanded overseas with investments into Asian and North American businesses. It's currently trading at 34x FY18's estimated earnings.

Costa Group Holdings Limited (ASX: CGC)

Costa has impressed the market since listing, with the share price nearly tripling since 2015. Costa is growing the business in Australia, North Africa and China, there aren't many ASX mid-caps growing in three continents.

Fresh food is always growing in demand and price over the long-term, particularly with the global population increasing but the amount of farmland and fresh water not changing.

It's currently trading at 24x FY18's estimated earnings.

Foolish takeaway

I'm a fan of all three businesses and I think all three have promising futures. REA Group is trading quite expensively so I'd put that at the end of my buy-list for these three shares. At the current prices I'd be inclined to buy Ramsay due to its defensive earnings and long-term growth potential.

Motley Fool contributor Tristan Harrison owns shares of Ramsay Health Care Limited. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia has recommended Ramsay Health Care Limited and REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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