Do you have some cash set aside for purchasing stock? Money you're unsure about what to do with considering the market's recent run-up? That's completely reasonable. After the S&P 500's more than 13% rise in the past three months, it seems like a number of stocks have gotten ahead of themselves, and are now sporting valuations that are too rich for the liking of value-oriented investors.

But that's not to say that there aren't some interesting stock options trading at discount prices. Don't worry -- there's no need to start digging through the bargain bin. Here are three good buys worth considering for your portfolio: Brookfield Infrastructure Partners (BIP 1.90%), Enphase Energy (ENPH 2.09%), and NV5 Global (NVEE 0.14%).

Sale signage on a supermarket shelf.

Image source: Getty Images.

Variety is the spice of this infrastructure stock's business

With a global footprint that extends throughout the Americas, Europe, and the Asia Pacific region, Brookfield Infrastructure Partners takes a broad approach to the infrastructure sector. In addition to electricity and natural gas infrastructure assets, the master limited partnership owns and operates assets dealing in the transport of freight, commodities, and passengers as well as infrastructure related to both energy and data.

Over the past decade, management has demonstrated its prowess at growing the business. From 2009 to 2020, for example, Brookfield Infrastructure's funds from operations (FFO) per unit have risen at a compound annual growth rate (CAGR) of 16% -- a period during which the company rewarded unit holders by increasing its per unit distribution at an 11% CAGR. And management foresees continued growth, targeting a long-term total annual return of 12% to 15% on invested capital.

Although Brookfield Infrastructure Partners reported a 2% year-over-year increase in FFO in the first quarter, the company's growth could have been even greater had it not been for COVID-19, which adversely affected port and toll road operations and resulted in about $10 million less in FFO.

Fear of ongoing pressure from the global pandemic has led shareholders to shy away from the stock, which is down more than 13% since the start of the year. For investors with a long time horizon, though, this means a chance to pick up shares on the cheap. Currently, the stock is trading at 5.5 times operating cash flow -- a steep discount to its five-year average multiple of 9.1.

It's an opportune time for this solar powerhouse

A pioneer in the development of microinverter systems for residential solar installations, Enphase Energy has expanded into other areas of the green energy market over the past few years. The company offers customers an energy storage solution with its Encharge storage system. In addition, it's currently accepting pre-orders for its Ensemble energy management platform.

As the company's product portfolio grows and it expands into international markets such as India and Australia, management sees considerable opportunities for near-term growth. How considerable? Whereas the company pegged its serviceable addressable market at $3.3 billion in 2019, it estimates this will grow to $12.5 billion in 2022.

ENPH Revenue (Annual) Chart

ENPH Revenue (Annual) data by YCharts

Although past performance is no guarantee of how a company will fare in the future, Enphase's track record of growing revenue, EBITDA, and cash flow over the past three years should instill confidence in investors that management will be able to grow the company further and increase its market share.

While shares of Enphase Energy have soared more than 140% year to date, investors looking to brighten their portfolios with the stock can still pick it up at an attractive price. Since the company failed to generate positive operating cash flow from 2015 through 2017, it's impossible to compare its current valuation by that metric to its five-year average. However, considering the fact that shares are trading hands at 50.5 times operating cash flow and its average ratio was 84.5 in 2019, investors can still feel that they're not getting burned with a high price tag.

Build a better portfolio with shares of this construction company

Offering leading engineering and consulting services, NV5 provides a variety of global customers -- from state and local governments to utilities to sports complexes -- with solutions that help them to execute a wide range of capital projects. In terms of its financials, NV5 has recognized considerable top- and bottom-line growth over the past five years in addition to stronger cash flow generation. 

NVEE Revenue (Annual) Chart

NVEE Revenue (Annual) data by YCharts.

Looking ahead, investors will appreciate the company's impressive backlog growth -- from $441 million at the end of first quarter 2019 to $574 million at the end of first quarter 2020.

Furthermore, based on management's history of strategic acquisitions, investors can be confident that the company is likely to continue to expand upon the services it offers. In late 2019, for example, in a $318 million all-cash transaction, NV5 acquired Geospatial Holdings, including its subsidiary Quantum Spatial, which NV5 described as the "nation's leading provider of geospatial data solutions." Time will tell how profitable the acquisition turns out to be, but for some sense of what motivated management, investors should be aware that NV5 identifies Quantum Spatial's total addressable market at $21.6 billion.

With the company poised for growth, now seems like a great time to pick up shares -- and with the stock trading at a discount, the timing couldn't be better. The stock is valued at 18.4 times operating cash flow -- well below its five-year average multiple of 31.8.

The bottom line on these bargain bin buys

For investors interested in infrastructure stocks, Brookfield Infrastructure and NV5 both represent enticing options, though the former may appeal more to conservative investors while the latter may be a better fit for those in the market for potentially great growth stocks. Of course, Enphase Energy also has the hallmarks of a compelling growth stock, but it's more appropriate for investors keen on expanding their exposure to the renewable energy industry.