Hi, Pat: I recently saw a TV report on the serious issue of structurally deficient bridges and roads in the U.S. The report said that 70,000 bridges are in dangerous condition, needing repairs or replacement. Can you recommend some stocks that would benefit from these infrastructure repairs?
We haven’t found any infrastructure stocks we want to recommend as buys, but here’s a look at one hold recommendation of Stock Pickers Digest, as well as two prominent U.S. companies in the industry:
Stantec, $29.79, symbol STN on Toronto (Shares outstanding: 93.8 million; Market cap: $2.9 billion; www.stantec.com), a recommendation of Stock Pickers Digest, benefits from infrastructure investments all over North America. The company offers consulting and project management services for infrastructure and various facilities.
Stantec continues to grow by acquisition. At the same time, it cuts its costs by sharing administrative expenses, financing and employee benefits among its divisions and new acquisitions. But continually buying firms adds risk, including the risk of writedowns.
The company raised its quarterly dividend by 12.1% earlier this year, to $0.185 from $0.165. The stock yields 1.2%.
Stantec is a hold.
Granite Construction, $35.85, symbol GVA on New York (Shares outstanding: 39.2 million; Market cap: $1.4 billion; www.graniteconstruction.com), is a heavy-construction contractor.
The company has three divisions: Construction (55.2%…
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