There are plenty of interesting investment opportunities available on the ASX share market right now.

The experts in charge of WAM Capital Ltd (ASX: WAM) have outlined some compelling opportunities in its portfolio that have pleasing outlooks.

WAM Capital is a listed investment company (LIC) – a company that invests in other shares to generate profits for shareholders. Which ASX shares? The LIC wants to find the “most compelling undervalued growth opportunities in the Australian market”.

Let’s dive into the two stocks that Wilson Asset Management highlighted as ideas in its August 2026 update.

EVT Ltd (ASX: EVT)

The first ASX share that WAM discussed was EVT, an Australian leisure and property company that operates cinemas, hotels and commercial properties. Its cinema chains are reportedly the largest in Australia and New Zealand.

The fund manager noted that the EVT share price rose in August following the release of its FY26 annual result. It shot up 18% during last month.

Wilson Asset Management highlighted that the ASX share’s reported net profit after tax (NPAT) rose 51.9% year-over-year to $50.7 million. The company’s board of directors declared a fully franked final dividend of 23 cents per share, representing a year-over-year rise of 4.5%.

WAM said that the FY26 result was ahead of the consensus of analysts’ expectations, driven by the cinema segment.

The fund manager also noted the business plans to divest approximately $800 million of non-core property assets, as well as an independent strategic review of the group structure.

WAM said the proposed asset divestments are expected to support hotel growth and potential special dividends, while the strategic review is a potential catalyst to unlock further shareholder value.

FDC Consolidated Holdings Ltd (ASX: FDC)

The other ASX share that Wilson Asset Management wanted to highlight was FDC, an integrated construction and building services company that delivers major construction, fit-out and refurbishment solutions across Australia.

The FDC share price also increased by 19% in August 2026. This positive performance was in response to the company’s first annual result as an ASX-listed company.

FDC reported that revenue grew by 13% year-over-year, which reflected the strength of its diversified business model and national footprint, according to WAM. There was double-digit growth across its construction, fit-out and refurbishment segments.

WAM then pointed out that FDC also reaffirmed its FY27 prospectus forecasts and highlighted a diversified project pipeline, which supported confidence in the ASX share’s future earnings growth.

The post Why a fund manager loves these ASX shares right now appeared first on The Motley Fool Australia.

More reading

• 40 ASX shares with ex-dividend dates next week
• Ouch: WAM Capital shares crash 15% as dividend cut in half
• WAM Capital trims FY27 dividend after portfolio setback in FY26
• Here are the top 10 ASX 200 shares today
• EVT Ltd posts profit jump and pivots focus to hotel growth in FY26 results

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

CSL Ltd (ASX: CSL) shares have been one of the more spectacular ASX recovery stories of the past few months.

After a difficult period for the healthcare giant, investors have returned quickly as confidence in its earnings outlook improved.

With the shares now trading around $173.18, I think the valuation deserves another look.

A very different price

Back in June, CSL shares could be bought for just $90.

At that level, I thought the stock looked dirt cheap for a global healthcare business with strong market positions across plasma therapies, vaccines, and specialist medicines.

The market clearly agreed eventually. At around $173.18 on Tuesday, CSL shares have almost doubled in roughly three months.

That is an extraordinary move for a company of this size, and it changes the valuation discussion quite considerably.

The easy answer is that CSL is no longer cheap in the way it was at $90.

But I do not think that automatically makes the shares expensive.

What does the valuation look like now?

According to consensus estimates, CSL is expected to generate earnings per share of $9.01 in FY27, rising to $9.51 in FY28 and $10.10 in FY29.

At the current share price, that puts CSL on a PE ratio of roughly 19 times forecast FY27 earnings.

While I would not call that cheap, I think it is still a reasonable price for a business with CSL’s global position and the prospect of returning to steady earnings growth.

The valuation also becomes a little more attractive if those earnings forecasts are delivered. Based on the FY29 estimate, the shares are trading at around 17 times earnings.

That gives investors some room for the earnings recovery to do more of the work from here.

Why I still see value

CSL still has several qualities I like as a long-term investment.

Its plasma collection network, scale in immunoglobulin therapies, and established global operations are difficult to replicate.

There is also potential for earnings to improve as the business works through the operational issues and restructuring that weighed on investor confidence previously.

I would not expect the next few years to be completely smooth.

CSL still needs to show that it can deliver the earnings recovery the market is now pricing in, and any disappointment could put pressure on the share price after such a strong rebound.

Even so, I think the current valuation leaves the stock in a reasonable position if earnings continue moving higher.

Foolish takeaway

CSL shares looked exceptionally cheap around $90 in June.

At $173.18, I do not think that description fits anymore.

The shares have almost doubled, and investors are now paying around 19 times forecast FY27 earnings.

For me, that moves CSL from dirt cheap to decent value.

I would still be comfortable buying at today’s price for the long term, but I think the opportunity now rests much more on future earnings growth than on an obviously depressed valuation.

The post Are CSL shares still cheap after almost doubling since June? appeared first on The Motley Fool Australia.

More reading

• UBS names its 10 top ASX picks for the next 3-6 months
• CSL led the ASX healthcare shares rebound. Can it continue?
• These ASX shares benefit from a high Aussie dollar
• CSL shares are up 94% from their low. What are brokers forecasting next?
• Looking to bank the upcoming CSL dividend? You better hurry!

Motley Fool contributor Grace Alvino has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Three thousand dollars is a good starting point for buying ASX shares.

The important element to focus on is diversification.

The three companies below are chosen to do different jobs.

One pays you now, one is geared to markets, and one is as close to defensive as our market gets.

1. Woodside Energy Group Ltd (ASX: WDS)

Woodside is the income anchor.

The shares trade near $32.33 on a price-to-earnings ratio of about 14.5 and a fully franked yield close to 5%.

That is the cheapest multiple and the highest yield of the three by a wide margin.

However, the company is still performing. The first half of calendar 2026 demonstrated this.

Operating revenue rose 13% to US$7.45 billion and net profit after tax reached US$1.67 billion.

Production came in at 86.5 million barrels of oil equivalent, and the interim dividend was 57 US cents fully franked at an 80% payout ratio.

Gearing is at 20.6%, marginally above the target range, which is the one number worth watching.

There are many things to like about this company.

2. Macquarie Group Ltd (ASX: MQG)

Macquarie Group is the geared exposure to markets.

FY26 net profit rose 30% to $4.85 billion, return on equity recovered to 14.0%, and earnings per share climbed 30% to $12.77.

The company’s full-year dividend was $7.00, though only 35% franked, which is important if you are buying this stock for income.

Importantly, assets under management reached $748 billion at 30 June, up 4% in a quarter.

Chief executive Shemara Wikramanayake described the year in characteristically measured terms:

Each of our businesses used its specialist expertise in navigating the current environment, identifying opportunities that support long-term growth and delivering positive outcomes for our clients and communities.

At current levels the shares trade on a price-to-earnings ratio near 19.7, which is not obviously cheap.

The future investment case depends on Commodities and Global Markets and Macquarie Capital both still running hot.

3. Wesfarmers Ltd (ASX: WES)

Wesfarmers is the awkward stock in this list.

Results were good: FY26 revenue rose 3.4% to $47.3 billion and net profit excluding significant items rose 8.3% to $2.87 billion.

Bunnings lifted earnings before tax 5.1% to $2.46 billion and Kmart Group added 6.0% to $1.11 billion.

The company’s full-year dividend rose 7.8% to $2.22 fully franked.

The problem however is the price.

At $77.30 the shares trade on a price-to-earnings ratio above 30 for a business growing revenue at 3.4%, and the broker consensus sits at a modest sell.

I still want it here, because a strong Australian dollar is lowering Kmart’s landed costs and the shares are already down more than 13% over twelve months.

Managing director Rob Scott pointed to the operating discipline behind the result:

Our businesses focused on mitigating cost pressures through productivity initiatives and were able to deliver more value, better service and increased convenience for our retail and business customers.

Why these ASX shares work together

They barely overlap.

Woodside is leveraged to LNG prices and a project starting up this quarter.

Macquarie rises and falls with market activity and deal flow.

Wesfarmers depends on Australian households and imported goods.

A poor year for one does not mean a poor year for the others.

Foolish takeaway

None of these three ASX shares are bargains, and only Woodside looks cheap.

What the current package gives you is a 5% franked yield, exposure to global markets, and a defensive retailer bought after a 13% fall.

Woodside is the one I would size largest, because the dividend is paid whether or not the share price cooperates.

Wesfarmers is the one that needs the most patience, given where the multiple sits.

Three thousand dollars invested this September will not change your life, and that has never been the point of buying ASX shares.

The post Top 3 ASX shares to buy with $3,000 in September appeared first on The Motley Fool Australia.

More reading

• Which ASX shares win when the Aussie dollar is strong?
• $10,000 a year in passive income buying just $10k worth of ASX shares? Here’s how I’d go about it
• These ASX shares benefit from a high Aussie dollar
• How Woodside shares are building a ‘unique position’ to supply global LNG markets
• What Warren Buffett’s investing style can teach superannuation investors

Motley Fool contributor Mark Verhoeven has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Wesfarmers. The Motley Fool Australia has recommended Macquarie Group and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.