Why to consider 4 NZX infrastructure stocks before 2022?

Highlights

• With the economy striving towards making recovery and stock exchanges performing decently, its time to revisit few stocks and analyse their potential.
• Infratil has committed £120-130 million of capital to London based data centre business-Kao Data.
• Metro performance Glass’ Board opted to defer the dividend payment for the 6-month results to be released by next month.

There are barely two months and a half month left before we set foot into 2022. With the economy striving towards making recovery and stock exchanges performing decently, its time to revisit few stocks and analyse their potential before the year ends.

Recently, NZ Infrastructure Commission Te Waihanga extended a plan to the Minister of Infrastructure on how it can help NZ prosper.

Geoff Cooper Te Waihanga Strategy GM stated that across the upcoming 3 decades there could be a significant rise in the individuals who would make NZ their resident country.

Currently, NZ is combating housing crunch, increasing overcrowding and a huge financial transition as the country lessen the impacts of climate change. 

Under such circumstances, the country’s infrastructure space requires to form a part of a solution not project as an issue itself.  It can only happen if the sector is organised, receptive to make a shift, well-funded and technology equipped. 

On the given backdrop, let’s apprise ourselves with the latest news coming from the 4 NZX listed infrastructure stocks and evaluate them before 2022 arrives.

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Infratil Limited (NZX:IFT; ASX:IFT)

Investor of energy, transport, and infrastructure businesses, Infratil Limited is based in Wellington.

A few days ago, the Company provided an update regarding its commitment of £120-130 million of capital to London based data centre business-Kao Data.

The Company along with Legal & General Group have plan to develop Kao Data into a £500 million multi-site data centre platform in the midterm.

On 15 October, at the end of the trading session, Infratil was at NZ$8.28, down by 0.96%.

Related read; Infratil (NZX:IFT): What is its investment activity focused on?

Fletcher Building Limited (NZX:FBU; ASX:FBU)

Involved in the activities related to building products, distribution, R&D, construction, etc Fletcher Building Limited has been in the business since early 1900’s.

Last month, the Company notified the market on its upcoming Annual Shareholders’ Meeting 2021 to be held virtually on 19 October.  The stakeholders would be able to watch the meeting, give their votes and raise queries via smartphones, tabs, or a desktop.

Fletcher Building ended the day’s session, on 15 October at NZ$7.16, rising by 0.42%.

Do read; Fletcher Building (NZX:FBU) defies COVID-19 odds to come out with flying colours

Metro Performance Glass Limited (NZX:MPG)

A prominent glassmaker and supplier in NZ region, Metro Performance Glass Limited conveyed the market last month on how COVID-19 induced lockdown was affecting its first half performance.

Its glass processing plants in Auckland were temporarily shut between 17 August – 8 September, which has caused major hit to its profitability. Further, the Company’s Board opted to defer the dividend payment for the 6-month results to be released by next month.

On 15 October, Metro Performance Glass ended the day’s trading session flat at NZ$0.415.

Related read; Metro Performance Glass (NZX:MPG) resumes operations in Alert Level 3 areas

Steel & Tube Holdings Limited (NZX:STU)

Established in 1953, Steel & Tube Holdings Limited is reckoned as one of the leading providers of steel solutions and distributors.

Last month, the Company held its Annual Shareholders’ Meeting where the CEO and Chairman of Steel & Tube presented the journey and FY21 results. There were other discussions around digital investment, their purpose, FY22 market outlook and various resolutions were passed as well.

Steel & Tube Holdings closed the day’s market session at NZ$1.12, decreasing by 1.75%.

Also read; Steel & Tube Holdings (NZX:STU) appoints new CFO

Bottom Line

Te Waihanga is currently waiting to hear from the Minister of Infrastructure and would think about it prior to the refinement of the plan for releasing it by 2022.