The infrastructure sector could see a significant boost due to the looming passage of the infrastructure bill. Investors should consider betting on quality infrastructure stocks Westlake Chemical (NYSE:), Lincoln Electric (LECO), Ryerson Holding (RYI), and Insteel Industries (NYSE:).The U.S. House of Representatives is expected to vote on the $1 trillion infrastructure bill no later than September 27. The Senate passed the bipartisan infrastructure bill on August 10 in a historic 69 to 30 vote.
The bill, which plays a crucial role in U.S. President Joe Biden’s ‘Build Back Better’ plan, includes roughly $73 billion for the electric grid and power infrastructure and $11 billion for road safety. Moreover, the infrastructure sector is expected to grow with the reopening of the economy, as roads, bridges, and electricity systems need regular maintenance and development.
Given this backdrop, it could be wise to bet on fundamentally strong infrastructure stocks Westlake Chemical Corporation (WLK), Lincoln Electric Holdings, Inc. (NASDAQ:), Ryerson Holding Corporation (RYI), and Insteel Industries, Inc. (IIIN). They are expected to keep rallying in the upcoming months based on their financial strength and solid growth prospects.
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