-4.14%
last session
Dycom Industries (DY) is gaining traction due to a growing backlog that signals improved long-term revenue visibili...
Sourcezacks.com - Jul 2
Infrastructure Stocks
IndustrialsInfrastructureMaterials
Engineering, construction, machinery, steel, aggregates, and industrial suppliers benefiting from US infrastructure and factory buildout. The universe is dominated by Machinery & Equipment (50%) and Engineering (12%), outperforming SPY by 8.4 percentage points YTD.
YTD Return
+17.9%
+8.4 pts vs SPY
21 of 38 beat SPY
1-Month Return
-2.4%
-3.5 pts vs SPY
Universe Size
38 Stocks
Curated theme basket
Market Cap
$2.2T
Total capitalization
Theme Performance
Infrastructure Stocks Performance vs SPY and QQQ
Track Infrastructure Stocks without checking every day
Weekly updates on performance, valuation changes, and key movers.
Theme Composition
Infrastructure Stocks Breakdown
Composition last reviewed
As of Jun 1, 2026
Categories reflect each company's primary theme role. Some companies may have exposure to multiple segments.
Theme Overview
Infrastructure Stocks Overview
A summary of how the theme breaks down across business segments and where concentration risk lives.
Selected Stocks
35
in theme
Total Market Cap
$1.85T
combined
Highly Concentrated
The top 2 segments (Machinery & Equipment & Engineering & Materials & Products & Other segments) represent 74.2% of this theme by market cap.
Top Infrastructure Stocks Stocks
Top Infrastructure Stocks Stocks by Segment, Performance, and Valuation
CAT
Caterpillar Inc.
Price$940.12
Mkt Cap-
YTD+57.1%
Rev G11.8%
DE
Deere & Company
Price$603.61
Mkt Cap-
YTD+29.3%
Rev G5.4%
PH
Parker-Hannifin Corporation
Price$957.51
Mkt Cap-
YTD+7.1%
Rev G6%
PWR
Quanta Services, Inc.
Price$656.79
Mkt Cap-
YTD+49.4%
Rev G20.6%
CMI
Cummins Inc.
Price$660.14
Mkt Cap-
YTD+26.5%
Rev G0.1%
EMR
Emerson Electric Co.
Price$137.91
Mkt Cap-
YTD+1.5%
Rev G4%
HON
Honeywell International Inc.
Price$225.05
Mkt Cap-
YTD-42.6%
Rev G-6.3%
URI
United Rentals, Inc.
Price$1,056.02
Mkt Cap-
YTD+25%
Rev G5%
PCAR
PACCAR Inc
Price$124.46
Mkt Cap-
YTD+11.6%
Rev G-15.8%
GWW
W.W. Grainger, Inc.
Price$1,356.43
Mkt Cap-
YTD+35.1%
Rev G6.6%
| # | Chart (YTD) | |||||||
|---|---|---|---|---|---|---|---|---|
| 1 | CAT Caterpillar Inc. | $940.12 | $437.43B | +57.1% | +2.7% | 49.9 | 11.8% | |
| 2 | DE Deere & Company | $603.61 | $162.94B | +29.3% | +5.2% | 32.6 | 5.4% | |
| 3 | PH Parker-Hannifin Corporation | $957.51 | $120.85B | +7.1% | +8.4% | 35.3 | 6% | |
| 4 | PWR Quanta Services, Inc. | $656.79 | $98.56B | +49.4% | -5.3% | 96.6 | 20.6% | |
| 5 | CMI Cummins Inc. | $660.14 | $91.21B | +26.5% | -1.9% | 32.2 | 0.1% | |
| 6 | EMR Emerson Electric Co. | $137.91 | $77.24B | +1.5% | -0.8% | 34.1 | 4% | |
| 7 | HON Honeywell International Inc. | $225.05 | $71.3B | -42.6% | -46.9% | 15.3 | -6.3% | |
| 8 | URI United Rentals, Inc. | $1,056.02 | $66.16B | +25% | -2.6% | 27.4 | 5% | |
| 9 | PCAR PACCAR Inc | $124.46 | $65.5B | +11.6% | +5.1% | 27.6 | -15.8% | |
| 10 | GWW W.W. Grainger, Inc. | $1,356.43 | $64.04B | +35.1% | +4% | 38.3 | 6.6% |
Showing 10 of 35 stocks
Daily Intelligence
Yesterday in Infrastructure Stocks
Key headlines and stock-level catalysts from the last trading session.
Last session recap is current.
End-of-day analysis published after market close. Next update after Jul 8, 2026 market close.
Session Brief
Jul 7, 2026The latest EOD theme brief is not available yet. The most recent stock-level drivers are shown below.
Key Drivers
Stock-Level Catalysts
Sentiment reflects catalyst narrative, not price direction - a stock can close lower while the fundamental driver is bullish.
-2.56%
last session
PWR is rallying on a recent earnings beat and strong price momentum, but investors are wary of a massive CapEx plan...
Sourcezacks.com - Jul 1
-1.79%
last session
CMC Markets shares surged after the company raised its earnings guidance, sparking renewed investor interest and a...
Sourcezacks.com - Jul 2
+1.02%
last session
Jacobs (J) gains new revenue streams with an owner’s engineer role on a South Australian wind farm and a highway mo...
Sourcebusinesswire.com - Jul 2
-3.07%
last session
Fresh EOD news and price action made this stock a theme driver.
Sourcezacks.com - Jul 6
Updated after market close
Jul 7, 2026
Valuation Pulse
Are Infrastructure Stocks cheap or expensive right now?
DCF valuations and Wall Street ratings across the theme.
Data as of Jul 8, 2026 (EOD)
35 stocks in theme - 33 with full coverage
DCF Valuation
(Intrinsic Value)33
of 35
covered
Undervalued
1(3%)
Fair Value
8(24%)
Overvalued
24(73%)
Top DCF Upside (Undervalued Only)
View allWall Street Consensus
(Price Targets)35
of 35
covered
Buy / Strong Buy
28(80%)
Hold
7(20%)
Sell / Strong Sell
0(0%)
Coverage Snapshot
Consensus is based on 35 stocks with analyst price targets. DCF analysis is based on 33 stocks with intrinsic value estimates.
Valuation Distribution
(35 covered stocks)Theme Valuation Score
3.1
Fair
Scale: 1 (Cheap) to 5 (Expensive)
1
Bargain
2 stocks (6%)
>= +30%
2
Cheap
7 stocks (20%)
+10% to +30%
3
Fair
16 stocks (46%)
-10% to +10%
4
Expensive
7 stocks (20%)
-25% to -10%
5
Very Expensive
3 stocks (9%)
<= -25%
Valuation score blends Wall Street target upside at 65% weight and DCF upside at 35% weight when both are available; single-source covered stocks use the available signal. Higher score means more expensive.
Earnings Calendar
Upcoming Earnings in Infrastructure Theme
Companies reporting in the next 30 days. Earnings dates and estimates can change as reports approach.
| Company | Reports | Timing | Est. EPS | Est. Revenue |
|---|---|---|---|---|
 FASTFastenal Company | Mon, Jul 13 | Unconfirmed | $0.32 est. | $2.32B est. |
 STLDSteel Dynamics, Inc. | Mon, Jul 20 | Unconfirmed | $4.07 est. | $5.62B est. |
 CLFCleveland-Cliffs Inc. | Mon, Jul 20 | Unconfirmed | -$0.19 est. | $5.18B est. |
| URIUnited Rentals, Inc. | Wed, Jul 22 | Unconfirmed | $11.54 est. | $4.21B est. |
| HONHoneywell International Inc. | Thu, Jul 23 | Unconfirmed | $2.46 est. | $9.55B est. |
 FIXComfort Systems USA, Inc. | Thu, Jul 23 | Unconfirmed | $10.38 est. | $2.97B est. |
 GVAGranite Construction Incorporated | Thu, Jul 23 | Unconfirmed | $2.26 est. | $1.41B est. |
 NUENucor Corporation | Mon, Jul 27 | Unconfirmed | $4.16 est. | $10.08B est. |
and 25 more in the next 30 days.
Estimates are based on available consensus data. BMO = Before Market Open, AMC = After Market Close.
Research & Methodology
How to evaluate Infrastructure Stocks
Methodology, investment thesis, and key risks for this theme.
Show DetailsHide Details
Research & Methodology
How to evaluate Infrastructure Stocks
Methodology, investment thesis, and key risks for this theme.
How we evaluate these stocks
Our methodology
We separate contractors, materials, machinery, rentals, industrial distribution, and factory-buildout beneficiaries. The focus is backlog quality, margin discipline, pricing power, and cash conversion.
- Exposure to infrastructure, manufacturing, or reshoring capex
- Backlog and project execution quality
- Materials and equipment pricing power
- Free cash flow and balance-sheet strength
- Cyclical risk weighed against secular investment
Investment thesis
Why this theme exists
Public and private investment is flowing into roads, power, factories, logistics, data centers, and domestic supply chains. The best companies convert this capex cycle into backlog, margins, and cash flow.
- Infrastructure bills support multi-year project demand
- Reshoring drives factory and logistics investment
- Data centers and power projects expand construction needs
- Materials and rentals can benefit from volume and pricing
- Industrial distribution can compound with customer spending
Key risks
What could go wrong
Big projects can create big execution risk. Cost inflation, labor shortages, fixed-price contracts, delayed permits, and economic slowdowns can pressure margins.
- Fixed-price projects can hurt margins when costs rise
- Labor and materials shortages can delay execution
- Higher rates can delay private construction
- Cyclical machinery demand can turn quickly
- Policy timing can shift project starts
FAQ
Frequently asked questions
Common questions investors have about the Infrastructure Stocks theme.
01What are infrastructure and reshoring stocks?
They are companies tied to US construction, engineering, heavy machinery, aggregates, steel, building products, electrical systems, industrial distribution, rentals, and factory or supply-chain buildout.
02Why combine infrastructure and reshoring?
Both themes draw on similar industrial supply chains: engineering, construction, machinery, steel, aggregates, electrical systems, distributors, rental equipment, and factory automation.
03Are these stocks cyclical?
Yes. Many are economically sensitive, although backlog visibility and public spending can smooth demand for some companies.
04What should I compare first?
Start with market cap, revenue growth, operating margin, free cash flow margin, return on equity, debt, and 1-year returns. Backlog quality matters for contractors, while pricing power matters more for materials and equipment names.
05What is the biggest risk in infrastructure stocks?
Execution risk. Large projects can look attractive in backlog but still hurt margins if labor, materials, permitting, or fixed-price contract assumptions go wrong.
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