Growth, value and benefits! 2 FTSE 250 stocks to be considered in October

Investing in mergers FTSE 250 growth, value, and dividend stocks can be a powerful strategy for achieving strong and stable returns.

Each type of share offers unique benefits, and incorporating them into a portfolio can help investors find a balance of capital appreciation and fixed income while at the same time reducing risk.

Growth stocks can enjoy dramatic share price gains as earnings grow. Dividend stocks provide a stream of income that can be reinvested to deliver compounded returns. And value stocks provide a margin of safety that can limit price declines during market downturns.

With all this in mind, here are two top FTSE 250 stocks that I think are worth a closer look.

Growth and share price

Cybersecurity businesses have a lot of room for growth as our lives become increasingly digital and the number of cyber attacks increases. This is exactly the case NCC Group (LSE:NCC) which is expected to reach 120% this financial year, and 25% and 21% respectively in the next two.

NCC provides two important services. Its Cyber ​​Security​​​​ unit helps companies detect online threats, simulate attacks and assess vulnerabilities. And its Escode arm offers software escrow and assurance services that protect valuable data and software.

NCC's share price is rising strongly as market conditions improve. Last month, it suggested a better-than-expected 4% revenue rise in the four months to September. Although investors should keep in mind the potential reversal if the US economy slips into recession.

That said, the cheapness of the company's shares could help offset any downward movement. It trades at a price-to-earnings growth (PEG) ratio of 0.2. Any reading below 1 indicates that the assignment is undervalued.

A dividend stock

it paid a dividend of 10.7% per week. NextEnergy Solar Income's (LSE:NESF) is one of the biggest potential payers on the FTSE 250 today. In fact, its yield is more than that three times greater than the average index.

High yields like this can act as red flags for investors. They can show a permanent dividend, companies often pay more than the salary. A high yield can also be the result of a falling stock price indicating increased pressure on the company.

But none of that applies to NextEnergy. It has a long history of paying large and growing dividends, as the chart below shows. Indeed, it has paid out a total of £345m in dividends since its IPO in 2014.

The power producer has two main attractions for me. The defensive nature of its operations supports strong cash flows, and therefore strong profits, at all points of the economic cycle. It also has the potential to deliver impressive long-term returns as the demand for clean energy steadily increases.

Near-term returns may be affected if interest rates remain near current highs. But in comparison, I think it's a good income stock to consider this October.