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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.
