15 Great Infrastructure Stocks to Buy Now

In November, President Joe Biden signed a $1.2 trillion infrastructure bill into law, ending months of partisan wrangling over that part of the president's domestic agenda and kicking off billions in spending. State and local governments will use the money to upgrade roads, bridges, transit and power systems, internet service, water supply resiliency, and a lot more.

The Infrastructure Investment and Jobs Act also presents an opportunity for investors ready to select publicly traded stocks of companies poised to profit from this surge in spending. Here is a list -- in alphabetical order -- of some to consider.

5 Stocks Under $49

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American Tower (NYSE:AMT) is a world leader twice over -- as the first pure-play mobile tower company and now as the largest of all real estate investment trusts (REITs).

The company also is playing a key role in providing 5G infrastructure for rooftop and other antenna systems. Along with its major customers, like Verizon and AT&T, and a growing legion of smaller operators, they should see increased business from helping to push broadband internet into unserved rural areas across the land -- a long-stated priority in Washington and among state and local governments.

ALSO READ: If You Invested $10,000 in American Tower in 1998, This Is How Much You'd Have Today

Securing and improving the nation's water supply got some funding love in the infrastructure bill, and companies like American Water Works (NYSE:AWK) should be the beneficiaries.

American Water Works' customers include several military bases and about 14 million people in 46 states who get their water and sewer service through American Water Works subsidiaries. Other services include water, sewer, heating, cooling, power surge, and water heater protection.

Brookfield Infrastructure Partners (NYSE:BIP) is one of the world's largest owners and operators of networks for critical movement of water, freight, data, and people. Its global network includes transmission and telecommunication lines, toll roads, ports, and pipelines. The company calls itself "one of the few pure-play, publicly traded, global infrastructure vehicles."

Caterpillar (NYSE:CAT) is the planet's biggest maker of construction and mining equipment, as well as diesel and natural gas engines, diesel-electric trains, and industrial gas turbines. The industries it serves -- energy, transportation, and construction -- tend to be highly cyclical. The big infrastructure spend coming out of Washington might well be a strong upside for this iconic multinational.

5 Stocks Under $49

Presented by Motley Fool Stock Advisor

We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.

ChargePoint Holdings (NYSE:CHPT) is a natural play for people interested in electric propulsion. The company's network of vehicle charging stations already has more than 4,000 commercial and fleet customers. And this rapidly growing adoption of electric vehicles will get a bit more boost from some of the infrastructure spending rolling out this year. This is one of those stocks with a Fool-favorite characteristic: a massive addressable market that could make it a great growth stock to buy and hold.

ALSO READ: Investing in Growth Stocks

Ciena (NYSE:CIEN) is not as obvious an infrastructure stock as the others here, but the kind of equipment, software, and services it provides to the telecommunications and cloud-service industries are important pieces of the 5G rollout. That includes providing equipment and other technology for undersea cable networks.

Enbridge (NYSE:ENB) is one of the largest oil and gas pipeline infrastructure operators in North America. Its transportation system for crude oil and liquids is billed as the longest globally.

Natural gas -- typically considered greener than crude and coal -- is another major piece of Enbridge's business, and it has a significant commitment to renewable energy as well.

The Infrastructure Investment and Jobs Act includes $65 billion for boosting renewable energy capacity and clean technology demonstration projects.

Because of that, First Solar (NASDAQ:FSLR) could see some shine added to its business as a major developer and producer of thin-film solar panels it says are larger than its competitors, generate more usable energy than competing technologies, and are ideal for utility-scale solar energy projects.

ALSO READ: How to Finance Solar Panels

Founded in 1912 by John Fluor, Fluor (NYSE:FLR) has been publicly traded since 1957 and now lays claim to being the largest construction and engineering business in the Fortune 500. Its subsidiaries engage in a range of industries that are obvious targets of increased infrastructure spending, including power, oil and gas, industrial, and government projects.

NextEra Energy (NYSE:NEE) is best known as an electricity provider to more than 10 million Floridians. But it's also become perhaps the world's largest producer of solar and wind power, which it also sells to other utilities. The company also touts itself as one of America's largest capital investors in infrastructure, with up to $55 billion in such spending planned through 2022.

5 Stocks Under $49

Presented by Motley Fool Stock Advisor

We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.

Nucor (NYSE:NUE) is the nation's largest producer of steel and the biggest recycler of scrap metal on the continent. The company recently said it would be spending $2.7 billion on a new plant it claims will have one of the lowest carbon footprints in the world for a steel mill.

And besides the market for its products in traditional infrastructure construction, it's a growing supplier and user of such green technology as utility-scale solar panel systems and insulated building panels.

ALSO READ: 1 Infrastructure Stock You Can Buy and Hold for the Next Decade

Oshkosh (NYSE:OSK) has been building specialty trucks -- including cement mixers, cherry pickers, and other vehicles -- for the military, fire departments, airports, and construction companies for a long time.

But it just signed a new contract that speaks even more to this venerable firm's status as an infrastructure stock: That would be to produce 165,000 new trucks for the U.S. Postal Service, with a significant percentage of them being electric vehicles.

ALSO READ: Investing in Infrastructure Stocks

United Rentals (NYSE:URI) occupies a niche that's perfect for profiting from a surge in infrastructure spending. The company lays claim to being the largest of all equipment rental companies, with nearly 12,000 locations and more than 20,000 types of equipment -- from hand tools for homeowners to heavy machinery for construction and manufacturing companies, utilities, and municipalities.

Vulcan Materials (NYSE:VMC) provides the foundation for many infrastructure-improvement projects: the gravel, sand, and other base materials needed to create roads, bridges, and more. The company is the nation's largest producer of aggregates -- the stone and gravel from quarries -- and aggregate-based construction materials such as asphalt and ready-mixed concrete.

ALSO READ: Building Material Prices Remain High: 2 Major Impacts

Our final offering for your consideration in infrastructure spending is the aptly named iShares Global Infrastructure ETF (NASDAQ:IGF). This exchange-traded fund acts as a kind of index fund for such stocks, with more than 75 holdings that include some of the companies mentioned above, such as NextEra and Enbridge.

It's an easy, liquid way to get involved in infrastructure investing without considering the attributes of individual stocks. Unless, of course, you want to anyway.

5 Stocks Under $49

Presented by Motley Fool Stock Advisor

We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.

The $1.2 trillion or so that the U.S. government just committed to infrastructure spending is only the beginning for what could be untold amounts of additional money needed to meet the challenges of aging and otherwise inadequate infrastructure here and across the world.

It's a big, big trend, and the investment possibilities can seem endless. Hopefully, we gave you a few good ideas to get you started.

Marc Rapport has no position in any of the stocks mentioned. The Motley Fool owns and recommends American Tower. The Motley Fool recommends Brookfield Infra Partners LP Units, Brookfield Infrastructure Partners, First Solar, NextEra Energy, and Verizon Communications. The Motley Fool has a disclosure policy.