Investing

5 Blue Chip Dividend Stocks Poised to Benefit From Recently Passed Infrastructure Bill

Martin Marietta

This remains a Wall Street favorite, especially with the large infrastructure package being signed. Martin Marietta Materials Inc. (NYSE: MLM) is one of the largest U.S. suppliers of aggregates, with operations across 27 states, Canada and the Bahamas. Its largest concentration is in Texas, comprising approximately a third of its exposure.

The company remains upbeat, not just on near-term construction demand, but also noted that many states with its greatest exposure were well positioned for housing and public nonresidential construction growth.

Investors in Martin Marietta Materials stock receive a 0.60% dividend. The $469 Morgan Stanley target price objective compares to the consensus figure of $429.14. Monday’s closing share price was $425.

Oshkosh

This off-the-radar pick may hold some of the largest upside potential for investors. Oshkosh Corp. (NYSE: OSK) designs, manufactures and markets specialty vehicles and vehicle bodies worldwide.

The company’s Access Equipment segment likely would benefit the most from an infrastructure build as it provides aerial work platforms and telehandlers for use in various construction, industrial, institutional and general maintenance applications. This segment also offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements; towing and recovery equipment; carriers and wreckers; equipment installation services; and chassis and service parts sales.

Shareholders receive a 1.27% dividend. Raymond James’s $130 price target is higher than the $125.59 consensus target for Oshkosh stock, which closed at $116.20 on Monday.

Vulcan Materials

Shares of this top company have been on a roll in 2021 and look to press even higher in the coming year. Vulcan Materials Corp. (NYSE: VMC) is one of the largest producers of construction aggregates (crushed stone, sand and gravel) in the United States and a significant producer of aggregates-based construction materials (ready-mixed concrete and asphalt mix).

The company’s largest revenue-generating states are Alabama, Arizona, California, Florida, Georgia, Illinois, North Carolina, Tennessee, Texas and Virginia, some of the fastest-growing areas of the United States.

Shareholders receive a 0.75% dividend. Loop Capital has set a $220 price target. The consensus target is $214.97, and Vulcan Materials stock rose almost 5% on Monday to close at $205.76.


These five top companies all pay dependable dividends and look to be involved heavily when the new infrastructure funds are deployed. Given the sharp rise in the stock market this year, and the possibility for a fourth-quarter sell-off, it may make sense to buy partial positions and wait for a backup to add the balance.

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