Are These The Top Infrastructure Stocks To Invest In Today?
While investors look ahead to another exciting week of earnings in the stock market, infrastructure stocks just got a boost. Namely, the U.S. House of Representatives passed the highly anticipated $1 trillion bipartisan infrastructure bill. The likes of which encompass transport, broadband, and utility funding among other related sectors. Accordingly, the bill will now be sent to President Biden’s desk as a vital push towards the Democrats’ plans for the nation. Because of all this, infrastructure companies could once again be in the limelight in the stock market today.
By and large, there are plenty of infrastructure stocks for investors to consider in today’s market. For instance, we could look at United Rentals (NYSE: URI) and John Deere (NYSE: DE). Both companies are leaders in their respective industries. On one hand, United Rentals is the largest equipment rental company in the world. Thanks to the economic reopening, the company posted solid figures in its latest quarterly earnings call last week. United Rentals saw year-over-year gains of over 96% in both its net income and earnings per share. On the other hand, John Deere remains a key player in the agricultural industry. The company’s shares are currently up by over 215% since its Covid era low.
Overall, the infrastructure stock trade appears to be heating up now. With that in mind, it would not surprise me to see investors looking for the best infrastructure stocks in the stock market now. Here’s a list of 5 infrastructure stocks to keep an eye on now.
Top Infrastructure Stocks To Buy [Or Sell] This Week
- Nucor Corporation (NYSE: NUE)
- Fluor Corporation (NYSE: FLR)
- Brookfield Infrastructure Partners (NYSE: BIP)
- Caterpillar Inc. (NYSE: CAT)
- Volta Inc. (NYSE: VLTA)
Nucor Corporation
To begin, we have Nucor Corporation, one of the most diversified steel and steel products companies in North America. The company, together with its affiliates, manufactures steel products across operating facilities in the U.S, Canada, and Mexico. In brief, its portfolio of products includes carbon and alloy steel in bars, sheets, and plates among others. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals and hot briquetted iron. It is also North America’s largest recycler. NUE stock currently trades at $116.60 as of 10:03 a.m. ET.
On October 21, 2021, the company announced its third-quarter financials for 2021. Diving in, the company reported net sales of $10.31 billion, increasing by 17% year-over-year. This was driven by an increase of 22% in average sales price per ton during the quarter. The company also said that it shipped a total of 7.17 million to outside customers during this quarter as well. Also, Nucor posted a record quarterly earnings of $2.13 billion or $7.28 per diluted share. All things considered, is NUE stock worth adding to your portfolio right now?
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Fluor Corporation
Following that, we have Fluor Corporation, a multinational engineering, and construction firm. In essence, it is a holding company that provides services through its subsidiaries in the following areas. It also provides professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. FLR stock currently trades at $23.44 as of 10:03 a.m. ET and is up by over 70% in the past year alone.
Last week, the company also reported its third-quarter financials. Firstly, the company posted a revenue of $3.1 billion for the quarter. Net income from continuing operations was $47 million, or $0.26 per share. During this quarter, Fluor’s new awards were $3 billion, and it ended the quarter with a consolidated backlog of $21 billion. On top of that, the company also ended the quarter with $2.2 billion in cash and marketable securities. In light of this amazing quarter, the company also raised its full-year adjusted earnings per share guidance. Given this piece of news, should you consider buying FLR stock?
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Brookfield Infrastructure Partners L. P.
Brookfield Infrastructure Partners (BIP) is one of the largest owners and operators of critical global infrastructure networks which facilitate the movement and storage of energy, water, freight, passengers, and data. It is a pure-play global infrastructure vehicle that invests in premier infrastructure assets with stable cash flows, high margins, and strong growth prospects. BIP stock currently trades at $60.61 as of 10:03 a.m. ET.
On November 3, 2021, the company reported its third-quarter financials as well. Net income for the quarter was $413 million compared to $5 million a year ago. It says that it benefited from organic growth at the high-end of its target range, with contributions from recently closed acquisitions and gains from the sale of its U.S. district energy operation which closed in July this year. In detail, the successful acquisition of Inter Pipeline has marked a significant milestone for the company and it has supported this quarter’s results with strong organic growth within its base business. With that being said, will you be jumping on BIP stock?
Caterpillar Inc.
Another major name to consider in the infrastructure stock trade now would be Caterpillar. In brief, it is a construction machinery and equipment company. As you can imagine, Caterpillar designs, develops, and sells machinery, engines, and related financial products. Given that it is the world’s largest construction equipment manufacturer, CAT stock could be worth watching now. As it stands, the company’s shares currently trade at $212.50 as of 10:03 a.m. ET.
Aside from the positive news on the infrastructure bill, Caterpillar is receiving positive attention from analysts as well. In essence, financial services firm Baird hailed CAT stock as a “fresh pick”. The firm sees Caterpillar have strong earnings over the next few years to come thanks to a “strong demand environment”. All things considered, would you consider CAT stock a top buy in the stock market now?
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Volta Inc.
Next up, we will be taking a look at Volta. In brief, it is a commerce-centric electric vehicle (EV) charger manufacturer. Through its EV charging network, the company caters to a growing number of EV-owning consumers in the U.S. today. Thanks to the addition of EV charging infrastructure in the Democrats’ latest bill, Volta could be taking center stage now. Evidently, VLTA stock is now trading at $10.24 as of 10:03 a.m. ET after gains of over 8% since today’s opening bell.
All in all, the current movement in the company’s shares is likely due to industry tailwinds. After all, the current bill could see a whopping $7.5 billion being invested into the development of EV chargers nationwide over the next five years. Not to mention, Volta remains a unique pick among its EV charging peers. This is because the company’s EV chargers also provide brands and businesses with commercial advertising space. If all that wasn’t enough, Volta also recently hit a milestone, delivering 100 million electric miles to EV drivers in the U.S. Given all of this, will you be investing in VLTA stock today?
