Home / Themes / Fiscal Spend '24: Infra Construction

Fiscal Spend '24: Infra Construction (open on stockthemes)

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Theme thesis · 4/5 sections · Tickers 8 with notes · 7 pending

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Bull / Bear Details has the investment thesis and bull/bear points. Overview is monitoring guidance (hiring, forums, second-order trends, search keywords, Google Trends, datasets).

Bull / Bear Details

The thesis on infrastructure construction in Spring 2025 is bullish, driven by continued fiscal spending from the Infrastructure Investment and Jobs Act (IIJA),

Thesis

The thesis on infrastructure construction in Spring 2025 is bullish, driven by continued fiscal spending from the Infrastructure Investment and Jobs Act (IIJA), which is funneling significant capital into infrastructure projects. Companies involved in construction and materials, such as KBX GR, are poised to benefit from increased government contracts and heightened demand for infrastructure development. Despite some economic uncertainties, the fiscal support is expected to sustain growth in this sector.

Bull case

  • The IIJA is providing significant capital to infrastructure projects, leading to increased demand for construction services.

  • KBX GR is well-positioned to benefit from government contracts due to its experience and established relationships in the sector.

  • The sector is supported by bipartisan political agendas, ensuring continued funding and project rollouts.

Bear case

  • Rising interest rates could increase borrowing costs, potentially slowing down project initiations.

  • Supply chain disruptions could delay project timelines and increase costs, affecting margins.

  • Economic downturns could lead to budget reallocations, reducing the funds available for infrastructure projects.

Google_Sheets

Overview

Hiring Trend Watchpoints

High-performing operators are actively expanding craft labor capacity—particularly high-voltage linemen, substation technicians, commercial electricians, pipefitters, and heavy civil equipment operators—to handle multi-year backlogs. Companies like Quanta Services and MasTec are deploying apprentice pipelines and off-site prefabrication/modular facilities as labor-force multipliers to de-risk schedule delivery amid severe national shortages of skilled craft workers. Confirming execution signals include steady net organic headcount growth (+5% to +10% YoY), rising self-perform labor ratios (80%+), and stable margins protected by MSA or cost-plus contract mechanisms. Warning indicators include unexpected project-level execution write-downs (as seen in challenged fixed-price utility/renewables jobs), rising field turnover, ballooning days sales outstanding (DSO) from billing disputes, or project start pushouts caused by inability to staff site crews.

Forum Watchlist

  • Reddit — r/constructionHigh

    On-the-ground jobsite conditions, contractor execution bottlenecks, equipment delivery lead times, and trade wage escalation.

  • Reddit — r/civilengineeringMedium

    State DOT project letting workflows, municipal bid timing, design backlog conversion to construction, and permitting hurdles.

  • Reddit — r/LinemanHigh

    High-voltage transmission and substation crew deployment, contractor overtime trends, and utility storm/grid rebuild capacity.

  • Reddit — r/IBEWMedium

    Union electrical craft availability, mega-project staffing for data center interties, and apprentice wage negotiations.

  • Specialized Community — HeavyEquipmentForums.comMedium

    Heavy civil fleet utilization, machine delivery lead times, aggregate quarry operations, and public works bidding margins.

Industry Publications

  • Engineering News-Record (ENR) (enr.com) — Premier source for top contractor rankings, heavy civil project awards, quarterly construction economics, and cost index data.
  • Construction Dive (constructiondive.com) — In-depth commercial and heavy civil reporting on contractor earnings, backlog health, labor constraints, and federal policy execution.
  • T&D World (tdworld.com) — Essential industry trade publication tracking electric utility transmission, substation construction, and power delivery project awards.
  • Roads & Bridges (roadsbridges.com) — Dedicated coverage of transportation infrastructure, state DOT bid tabulations, paving materials, and federal highway funding.
  • Power Engineering (power-eng.com) — Comprehensive focus on large-scale power generation EPC, gas turbine installations, grid interconnection, and industrial power buildouts.

Second Order Trends

1. Power & Hyperscale Convergence: Civil and specialty infrastructure contractors are increasingly winning high-margin scopes 'inside the fence' of hyperscale data centers—executing high-voltage substations, combined-cycle gas turbine (CCGT) generation, and large-diameter cooling systems as tech operators build captive micro-grids to bypass multi-year utility queue delays. 2. In-House Supply Chain Moats: To overcome lead times exceeding 2 to 3 years on critical electrical components, leading contractors are vertically integrating into transformer manufacturing, proprietary steel fabrication, and engineering right-of-way procurement, insulating their schedules from third-party vendor slippage. 3. Legislative Cliff Navigation & BUILD America Reauthorization: With the five-year IIJA authorization reaching its late-stage outlay window, contractor backlogs are shifting toward formula-funded highway and water projects while monitoring federal debate on next-generation surface transportation legislation (e.g., BUILD America 250). 4. Risk-Contracting Discipline: Contractors are actively shedding risky fixed-price lump-sum megaprojects in favor of collaborative target-price, alliance, and time-and-materials Master Service Agreements (MSAs), driving an earnings dispersion between disciplined self-perform operators and laggards suffering subcontracting cost overruns.

Search Keywords Brand Product

  • 765kV transmission lines
  • gas turbine EPC
  • substation construction
  • modular substations
  • hot-mix asphalt
  • aggregate materials
  • dredging vessels
  • hot-dip galvanizing
  • underground utility construction
  • fiber optic splicing
  • balance of plant
  • turnkey data center EPC
  • pipeline construction
  • liquid asphalt
  • concrete paving
  • deep foundation civil
  • civil infrastructure construction
  • highway and bridge construction
  • transmission line construction
  • substation EPC
  • grid modernization construction
  • heavy civil engineering
  • marine dredging infrastructure
  • water wastewater infrastructure

Search Keywords Policy Regulatory

  • IIJA funding outlays
  • BUILD America 250 Act
  • Bipartisan Infrastructure Law
  • FERC Order 1920
  • BEAD program funding
  • state DOT contract letting
  • Buy America infrastructure requirements

Search Keywords Event Phrases

  • AASHTO Annual Meeting
  • FHWA project obligation releases
  • DOT FY26 letting conference
  • FERC regional transmission planning rulings
  • ARTBA National Convention

Google Trend Product Category Intent

• highway construction bidding • substation construction contracts • high voltage transmission projects • data center electrical contractor • civil infrastructure jobs

Google Trend Consumer Intent

• infrastructure bill projects near me • road construction funding status • bridge repair projects • power grid upgrades

Google Trend Macro Policy Terms

• IIJA infrastructure spending update • DOT highway funding status • BUILD America 250 bill • bipartisan infrastructure law spending

Economic Data Watch

1. S&P Global / IHS Markit — Construction PMI

Matched (medium)s_p_global_credit_ratings_risk_data · access=file · map_only

Metric/field Headline Purchasing Managers' Index (PMI)

Cadence monthly

Why it matters Provides a timely gauge of overall construction activity, indicating expansion or contraction in the sector. A reading above 50 indicates growth, while below 50 signals contraction.

Signal to watch Sustained readings above 50 (expansion) or acceleration in the index are bullish; readings below 50 (contraction) or deceleration are bearish.

Confidence: high

2. U.S. Department of Transportation — IIJA Funding Dashboard

Not in registry

Metric/field Total IIJA Funds Obligated

Cadence monthly

Why it matters Directly tracks the allocation and obligation of funds from the Infrastructure Investment and Jobs Act (IIJA), which is a primary driver of this theme.

Signal to watch Consistent increases in obligated funds are bullish, indicating active project initiation and funding flow. Stagnation or decline is bearish.

Confidence: high

3. Bloomberg — Bloomberg Commodity Index (BCOM)

Matched (medium)cand_bloomberg_4faa32e9 · candidate

Metric/field BCOM Index Value

Cadence quarterly

Why it matters Tracks changes in raw material costs (e.g., steel, asphalt, energy), which directly impact project margins for infrastructure contractors. Rising prices can squeeze profitability.

Signal to watch Declining or stable commodity prices are bullish for margins; rising prices are bearish.

Confidence: high

4. FRED — Bureau of Labor Statistics (BLS)

Matchedfred · access=api · map_only

Metric/field CES2000000001 (All Employees, Construction, Thousands, Seasonally Adjusted)

Cadence monthly

Why it matters Indicates the health and growth of the construction labor market, which is crucial given the industry's reliance on skilled craft labor and reported shortages.

Signal to watch Sustained growth in construction employment is bullish, signaling capacity expansion and project execution capability. Declining employment is bearish.

Confidence: high

5. FRED — U.S. Treasury

Matchedfred · access=api · map_only

Metric/field DGS10 (10-Year Treasury Constant Maturity Rate, Percent)

Cadence monthly

Why it matters Rising interest rates can increase borrowing costs for infrastructure projects, potentially slowing down project initiations and increasing financing expenses for companies.

Signal to watch Declining or stable rates are bullish, supporting project financing. Rising rates are bearish, potentially hindering new projects.

Confidence: high

Free Alt Data Watch

1. State DOT Websites — Contract Letting Results / Bid Tabulations

Not in registry

Metric/field Value of Public Contract Awards

Cadence monthly

Why it matters Provides direct, forward-looking insight into new project awards, indicating future revenue streams and backlog growth for road builders and other civil contractors.

Signal to watch Increasing value and volume of contract awards are bullish, signaling strong demand and future revenue. Declining awards are bearish.

Confidence: high

2. FERC / ISO Interconnection Queues — Power Generation / Transmission Project Requests

Matched (medium)cand_ferc_iso_interconnection_queues_983b594e · candidate

Metric/field Number and Capacity (MW) of New Data Center / Industrial Load Interconnection Requests

Cadence quarterly

Why it matters New interconnection requests are a leading indicator for large-scale power infrastructure projects, including those driven by data centers and industrial reshoring, directly impacting theme members like PWR, MTZ, and AGX.

Signal to watch An increasing number and capacity of new interconnection requests are bullish, indicating strong future project pipeline. Delays or declines are bearish.

Confidence: high

3. Google Trends — Search Interest

Not in registry

Metric/field Search interest for 'data center construction' and 'grid modernization projects'

Cadence weekly

Why it matters Gauges public and industry attention to key growth drivers of the theme, reflecting underlying interest and potential activity.

Signal to watch Rising search interest is bullish, indicating increasing awareness and potential demand. Declining interest is bearish.

Confidence: medium

4. USASpending.gov — Federal Contract Awards

Matched (medium)engine_advertising_brand_tracking · access=file · map_only

Metric/field Total Awarded Amount by NAICS Code (e.g., 237 - Heavy and Civil Engineering Construction)

Cadence daily

Why it matters Provides granular data on federal government spending on infrastructure projects, directly impacting companies benefiting from fiscal stimulus.

Signal to watch Increasing awarded amounts and new contract recipients are bullish, indicating robust government spending. Declining awards are bearish.

Confidence: high

5. BLS — Job Openings and Labor Turnover Survey (JOLTS)

Not in registryaccess=api

Metric/field Job Openings: Construction

Cadence monthly

Why it matters Indicates labor demand within the construction sector, providing insights into potential labor shortages or easing of constraints, which impact project execution and costs.

Signal to watch High and increasing job openings suggest strong demand for labor and potential capacity constraints (bearish for margins, bullish for activity). Declining openings could indicate easing demand or labor availability (bullish for margins, bearish for activity).

Confidence: low

Paid Alt Data Watch

1. Thinknum — Engineering and Construction Job Postings

Matched (medium)engine_advertising_brand_tracking · access=file · map_only

Metric/field Job Postings Growth (30-day change) for 'data center construction' or 'high-voltage transmission' roles (for PWR, MTZ, ECG, AGX)

Cadence daily

Why it matters Offers real-time insights into labor demand and capacity expansion within the construction sector, particularly for specialized roles, signaling operational health and growth potential.

Signal to watch Sustained growth in specialized job postings is bullish, indicating strong demand and expansion plans. Declining postings are bearish.

Confidence: high

2. Industrial Info Resources (IIR) — North American Data Center Construction Project Tracking

Matched (medium)cand_industrial_info_resources_a66f582f · candidate

Metric/field New Data Center Construction Project Starts & Contract Awards (by value and number)

Cadence monthly

Why it matters Provides granular, forward-looking data on new data center construction projects, including contract awards, which is a critical and accelerating driver for several theme members.

Signal to watch Increasing project starts and contract awards are bullish, indicating a robust pipeline and future revenue. Declining activity is bearish.

Confidence: high

3. Industrial Info Resources (IIR) — Power Transmission and Distribution Project Tracking

Matched (medium)cand_industrial_info_resources_a66f582f · candidate

Metric/field New Power Transmission & Distribution Project Starts (by value and number)

Cadence monthly

Why it matters Tracks new projects in grid modernization and expansion, a core driver for companies like Quanta Services and MasTec.

Signal to watch Increasing project starts are bullish, indicating sustained investment in grid infrastructure. Declining activity is bearish.

Confidence: high

4. TenderAlpha — Government Procurement Data

Matchedtenderalpha_government_tenders_procurement · access=file · map_only

Metric/field Value and Volume of Public Infrastructure Tenders Awarded (by NAICS/PSC code, for US/Canada)

Cadence weekly

Why it matters Provides a comprehensive view of government contract awards for infrastructure projects, offering a leading indicator of public spending and opportunities for theme constituents.

Signal to watch Increasing value and volume of awarded tenders are bullish, indicating strong government fiscal support. Declining activity is bearish.

Confidence: high

5. Revelio Labs — Workforce Intelligence

Matched (medium)revelio_labs_employee_workforce_profiles · access=file · map_only

Metric/field Employee Headcount Growth (YoY) for key theme members (PWR, MTZ, ECG, PRIM, AGX)

Cadence monthly

Why it matters Tracks the workforce expansion or contraction of key infrastructure contractors, indicating their capacity to execute projects and respond to demand, especially given labor market tightness.

Signal to watch Consistent employee headcount growth is bullish, signaling capacity expansion. Stagnation or decline is bearish.

Confidence: high

Prediction Market Watch

1. US private data center construction spending in September (September 2026)

Kalshi · Confidence: high

Matched (medium)kalshi_senate_control_d · access=api

Market https://kalshi.com/markets/kxdatacentcon

Why it matters This contract directly tracks spending in private data center construction, a key growth driver for theme constituents like Quanta Services (PWR), MasTec (MTZ), Everus Construction Group (ECG), and Primoris Services (PRIM) due to the 'AI-Driven Data Center Infrastructure Boom' and associated specialized electrical and mechanical work. Increased spending signals higher demand and potential for new project awards, directly impacting their revenue and backlog.

Series key pm_us_private_datacenter_construction_spending

2. Will data center power-cost standards become law? (Before Jul 1, 2027)

Kalshi · Confidence: high

Matched (medium)pm_kalshi_ddr5_ye2027_above_95 · access=api

Market https://kalshi.com/markets/kxratepayerlaw

Why it matters This contract is materially relevant as it addresses sector regulation impacting data centers, a significant end-market for many theme constituents. The implementation of power-cost standards could influence the design, location, and overall investment in data center infrastructure, directly affecting the demand for construction services related to power delivery and generation for companies like PWR, MTZ, ECG, and PRIM.

Series key pm_datacenter_power_cost_standards_law

3. How high will peak electricity demand on the Texas ERCOT grid get in 2026?

Kalshi · Confidence: high

Matched (medium)kalshi_senate_control_d · access=api

Market https://kalshi.com/markets/kxtxercotpeak

Why it matters Texas is a critical market for several theme constituents, including Quanta Services (PWR), MasTec (MTZ), and Primoris Services (PRIM), particularly for power delivery and grid modernization projects. Increased peak electricity demand, often driven by data centers and industrial growth, necessitates significant investment in transmission, distribution, and new power generation infrastructure, directly boosting demand for these companies' services.

Series key pm_texas_ercot_peak_demand

Theme Plain English
This theme captures prime contractors, specialty builders, and materials providers physically executing North American civil, transportation, power, and utility infrastructure projects. Driven by multi-year federal funding from the Infrastructure Investment and Jobs Act (IIJA) alongside private-public capital for grid modernization and hyperscale data center interconnections, these companies convert swelling public backlogs into completed highways, bridges, high-voltage transmission corridors, substations, and marine waterways.

LLM_Approved · Updated 2026-10-21

Key Metrics3 rows
MetricCadenceWhat It SignalsUpdate Source
Commodity Price IndexDailySignals material cost changesGoogle_Sheets
Infrastructure Spending LevelsQuarterlyIndicates fiscal support scopeGoogle_Sheets
Construction PMIMonthlyGauges construction activityGoogle_Sheets

Bloomberg · Updated 2025-12-17

Upcoming Catalysts21 rows
Catalyst IDEstimated TimingEstimated Date StartEstimated Date EndCatalystWhy It MattersTicker Or Theme SpecificTranscript DateSource TypeCatalyst Source
AGX_2c8d988blater this year2026-07-012026-12-31Completion of construction and operational ramp-up of an additional fabrication facility in North Carolina for Argan's Industrial segment.This facility expansion will increase the Industrial segment's capacity to address new opportunities, particularly for thermal expansion and energy storage tanks for data centers, potentially leading to higher revenue and market share.Ticker2026-06-04earnings_transcriptAGX (ticker)
ECG_606acf1einitial 2026 guidance2026-01-012026-12-31Everus Construction Group, Inc. achieving its 2026 revenue guidance of $4.1 billion to $4.2 billion and EBITDA guidance of $320 million to $335 million.Meeting or exceeding these targets would signal strong execution and demand, reinforcing investor confidence. Missing them could indicate operational challenges or softening market conditions.Ticker2026-02-24earnings_transcriptECG (ticker)
ECG_f5990346going forward2026-02-272029-02-27Announcement and completion of strategic, accretive acquisitions to expand geographic footprint, diversify business, or deepen market presence.Successful M&A can accelerate growth and enhance shareholder value by leveraging the company's strong balance sheet. Failure to find suitable targets or making dilutive acquisitions would be a negative.Ticker2026-02-24earnings_transcriptECG (ticker)
ECG_a36889f5plan on having contribution from that new satellite operation for us in 20262026-01-012026-12-31Realization of expected financial contribution from the newly established satellite operation supporting a large semiconductor company.Successful establishment and contribution from this new geography would validate the company's organic expansion strategy and diversify its revenue base. Underperformance could raise concerns about execution.Ticker2026-02-24earnings_transcriptECG (ticker)
ECG_4c4b1a6bcontinued backlog growth2026-02-272027-12-31Continued growth in total backlog, particularly in key end markets like data center, hospitality, semiconductor, transmission, and undergrounding.Sustained backlog growth provides strong revenue visibility for 2026 and beyond. A significant slowdown or decline would signal weakening demand or increased competition, impacting future revenue.Ticker2026-02-24earnings_transcriptECG (ticker)
ECG_0335a55b2026 guidance assumes an EBITDA margin of just under 8% at the midpoint of the range2026-01-012026-12-31Everus Construction Group, Inc. achieving its targeted EBITDA margin of just under 8% for 2026.Achieving this margin, higher than historical core, would demonstrate sustainable operational excellence and scale benefits. Failure could indicate challenges in project execution, cost management, or pricing.Ticker2026-02-24earnings_transcriptECG (ticker)
MTZ_193bfca3when we report our third quarter numbers2026-10-202026-11-15Update on the progression of Superior Group's backlog.This update will provide further clarity on the acquired company's contribution to MasTec's overall backlog and future revenue, influencing investor sentiment regarding the acquisition's impact.Ticker2026-07-30earnings_transcriptMTZ (ticker)
MTZ_5728d120before year-end2026-08-072026-12-31Realization of significant revenue synergies from the Superior Group acquisition, translating into more business across MasTec's operations.This catalyst is crucial as it validates the strategic benefits of MasTec's largest acquisition, potentially leading to increased revenue, expanded market share, and enhanced competitive positioning.Ticker2026-07-30earnings_transcriptMTZ (ticker)
MTZ_0153a0f0During 20262026-01-012026-12-31Acquisition of McKee Utility Contractors to expand water infrastructure capabilities.Adds water infrastructure capacity and potential backlog/margin accretion; strengthens CE&I/Infrastructure execution platform.Ticker2026-02-27earnings_transcriptMTZ (ticker)
MTZ_e419aecd20262026-01-012026-12-31Guidance assumes acquisitions contribute approximately $500 million of revenue for 2026 at high-single-digit EBITDA margins.Key driver of 2026 top-line growth and mix; realization affects investor sentiment and margin trajectory.Ticker2026-02-27earnings_transcriptMTZ (ticker)
MTZ_8e8f2698Between 2026 and 20272026-01-012027-12-31Turnkey data center construction project related to NV2A, with approximately $1 billion of data center work; expects to conclude in 2027 and expands self-perform capabilities.Potential margin upside from self-perform work and an expanding data-center-related services mix; could boost CE&I backlog and revenue in 2026–2027.Ticker2026-02-27earnings_transcriptMTZ (ticker)
PRIM_163f2738in 20262026-01-012026-12-31Investment in and completion of a new Premier PV (eBOS) manufacturing facility, expected to come online in Q4 2026.This facility expansion will increase manufacturing capacity and product offerings for the eBOS business, enabling significant growth starting in 2027 and supporting the overall renewables segment's performance.Ticker2026-02-23earnings_transcriptPRIM (ticker)
PRIM_661e1b35in 20262026-02-252026-12-31Securing additional large-diameter pipeline project bookings.Successful pipeline bookings are crucial for Primoris to meet its 2026 guidance, as these projects are quick book-and-burn and current backlog is insufficient. Positive outcomes would be bullish for revenue and investor confidence.Ticker2026-02-23earnings_transcriptPRIM (ticker)
PRIM_a57a53e3going forward2026-02-252028-02-25Announcement of strategic acquisitions to expand capabilities in subscale markets or accelerate growth.Accretive acquisitions could expand Primoris's market share, enhance its service offerings, and drive higher-margin growth, potentially leading to a positive impact on valuation.Ticker2026-02-23earnings_transcriptPRIM (ticker)
PRIM_304f350b20262026-01-012026-12-31Occurrence and magnitude of storm response work.Storm work is highly accretive to power delivery margins and could provide upside to Primoris's adjusted EBITDA guidance for 2026, as it is currently excluded from the company's outlook.Ticker2026-02-23earnings_transcriptPRIM (ticker)
PWR_ac14b71efull year 2026 financial expectations2026-01-012026-12-31Quanta provided its full-year 2026 financial expectations, including continued double-digit growth in revenues, net income and adjusted EBITDA, with the opportunity to deliver over 20% growth in adjusted EPS and a year-end backlog around $44 billion plus free cash flow guidance (midpoint about $1.8 billion).Sets the growth and profitability trajectory for 2026; achievement would support the stock's valuation via stronger backlog conversion and cash generation.Ticker2026-02-19earnings_transcriptPWR (ticker)
PWR_58ffd560over the next several years2026-02-192028-02-19Plan to invest roughly $500 million to $700 million over the next several years to advance vertical supply chain capabilities, including power transformer manufacturing facilities.Expands self-supply capacity, potentially improving project execution, reducing lead times, and supporting higher-margin, integrated 'Total Solutions' deployments.Ticker2026-02-19earnings_transcriptPWR (ticker)
MTZ_161d0c62As early as 20272027-01-012027-12-31Pipeline Infrastructure revenue potentially reaching historical highs (around $3.5 billion) by 2027.Significant upside potential for MasTec's growth and backlog; could drive meaningful top-line and margin benefits as the segment scales.Ticker2026-02-27earnings_transcriptMTZ (ticker)
MTZ_d6a401d7Predominantly 2027, with some 2026 activity2027-01-012027-12-31BEAD-driven fiber deployment and data-center connectivity growth; management expects BEAD impact to be meaningful in 2027.Macro tailwind for Communications and BEAD programs could drive backlog growth and earnings, with potential margin expansion if execution remains strong.Theme2026-02-27earnings_transcriptMTZ (ticker)
PWR_681f5f9027, 28, 29 type build2027-01-012029-12-31Gas-fired generation backlog ramp with multiple projects expected to enter backlog in 2027–2029 as the company expands its 'Total Solutions' platform into generation.Could meaningfully boost revenue and earnings in the late 2020s; execution risk and capital intensity could affect margins and investor sentiment.Ticker2026-02-19earnings_transcriptPWR (ticker)
AGX_4363a634over the next 10 to 18 months2027-04-012027-12-31Argan expects to be awarded a 'handful of new projects' in its Power segment, which are currently in the development phase with customers.Securing these new projects is crucial for replenishing and growing Argan's backlog, directly impacting future revenue visibility, capacity utilization, and investor sentiment, especially as existing large projects are completed.Ticker2026-06-04earnings_transcriptAGX (ticker)

LLM_Approved · Updated 2026-08-07

News

3 stories tagged to this theme — Narrative Radar and editorial picks.

October 2026

September 2026

Constituents

  • AGXT3
    — Argan, Inc.
  • ECGT3
    — Everus Construction Group, Inc.
  • GVAT3
    — Granite Construction Incorporated
  • MTZT3
    — MasTec, Inc.
  • PRIMT3
    — Primoris Services Corporation
  • PWRT3
    — Quanta Services, Inc.
  • ROADT3
    — Construction Partners, Inc.
  • STRLT3
    — Sterling Infrastructure, Inc.
  • AZZT3
    · no notes yet
  • DYT3
    · no notes yet
  • FLRT3
    · no notes yet
  • GLDDT3
    · no notes yet
  • MYRGT3
    · no notes yet
  • ORNT3
    · no notes yet
  • TPCT3
    · no notes yet