Now that President Joe Biden has signed the $1.9 trillion coronavirus relief bill into law, all eyes in Washington and on Wall Street are refocusing on his next big economic priority: a $2 trillion spending plan to rebuild America’s crumbling infrastructure. Work on the package has already begun as Congress and the administration hammer out the details of what was a key plank in his campaign platform.
For investors who expect that bill to pass, the time is ripe to invest in infrastructure stocks — think companies that help build roads and bridges, water and power systems, and even broadband systems and data centers. There are hundreds of stocks to choose from in this sector, but I expect these three could be standout performers as Washington starts routing funds into a vast array of vital projects.
One category of raw material used in pretty much all forms of construction is aggregates — crushed stone, sand, and gravel. Vulcan Materials (NYSE: VMC) is the nation’s largest producer of aggregates, and also produces asphalt and ready-mixed concrete.