2 Buy Rated Infrastructure Stocks Poised To Take Off

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Nationwide infrastructure in the United States is expected to be reshaped by President Biden’s proposed $2 trillion-plus spending plan, given his ambitious desire to upgrade the broad swaths of the country’s infrastructure and pave the way for relatively new industries, such as electric vehicles and clean energy, to expand their operations. 

The construction materials market is expected to grow at a 15.7% CAGR over the next four years to hit $1.12 trillion by 2025. Investor interest in the infrastructure space is evidenced by the Global X Funds Global X U.S. Infrastructure Development ETF’s (PAVE) 96.1% returns compared to the S&P 500 Trust ETF’s (SPY) 47.9% gains over the period.

Given this backdrop, we think it is wise to invest in fundamentally sound infrastructure stocks Tetra Tech, Inc. (TTEK) and Columbus McKinnon Corporation (CMCO) that are poised to deliver significant returns in the coming months.

Tetra Tech, Inc. (TTEK)

TTEK is a provider of consulting, engineering, program management, construction management, and technical services. The company operates through three segments—its Government Services Group (GSG), Commercial and International Services Group (CIG), and Remediation and Construction Management (RCM). It supports commercial and government clients and is focused on water, the environment, infrastructure, resource management, and energy.

On April 13, the U.S. Army Corps of Engineers (USACE) awarded TTEK a six-year, $36 million contract to assess and manage flood risks, reduce coastal erosion, and restore ecosystems. Through predictive modeling and advanced analytics, TTEK hopes to design innovative structural and non-structural resilient infrastructure solutions to reduce impacts from storm events and rising sea levels.

TEK acquired IBRA-RMAC Automation Systems, Inc., an industry leader in water systems instrumentation and digital transformation consulting services for water infrastructure, on April 8. With this acquisition, TTEK hopes to further expand its digital water consulting capabilities with state-of-the-art instrumentation, digital automation, and advanced data analytics services for its customers.

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