3 Stocks To Benefit From Infrastructure Package

On CNBC’s "Trading Nation," Nancy Tengler of Laffer Tengler Investments said she would like to pick individual stocks over Global X U.S. Infrastructure Development ETF (BATS: PAVE), which are likely to benefit from the passage of a massive infrastructure bill.

The House of Representatives late Friday night passed a $1.2 trillion infrastructure bill in a 228-206 vote, sending the legislation to President Joe Biden for his signature.

Xylem Inc. (NYSE: XYL) is one of the major beneficiaries of the $55 billion water spending bill, which is significant spending for water according to Tengler.

Jacobs Engineering Group Inc. (NYSE: J) is going to benefit from the $40 billion amount that will be spent on bridges.

She also expects the infrastructure bill to benefit Martin Marietta Materials, Inc. (NYSE: MLM).

None of the three stocks are in the list of top 10 percentage holdings in the Infrastructure Development ETF, she added.

Price Action: Xylem shares rose 1.6% to close at $133.07 on Monday, while shares of Jacobs Engineering gained 1.7% at $144.99. Martin Marietta Materials stock climbed 3.1% to settle at $425.