3 US Stocks Riding The Onshoring Boom In Data Centers And Manufacturing

Global manufacturers are pouring money into US factories, data centres and defence facilities, yet the real earnings impact may sit years away while politics and policy keep raising new questions. That mix of heavy spending, delayed payoffs and headline risk is exactly where long term opportunities and hazards often hide. This article unpacks the theme and then walks through three stocks that are directly exposed to this news-driven onshoring wave.

The companies covered next are just a starter set. The full screen surfaced 53 more US-listed businesses that fit the manufacturing and onshoring theme, with equally compelling stories that are not included in this article. If you want to identify, compare, and analyze the highest-conviction ideas in this trend, head straight into the US Manufacturing and Onshoring Beneficiaries screener.

Sterling Infrastructure (STRL)

Overview: Sterling Infrastructure is a US-based construction specialist that prepares sites and builds infrastructure for data centers, factories and large-scale civil and residential projects tied to onshoring and industrial investment.

Operations: Sterling Infrastructure generates about US$3.3b from e-Infrastructure Solutions, US$607 million from Transportation Solutions and US$379 million from Building Solutions, all in the United States.

Market Cap: US$8.8b

Sterling Infrastructure matters for this screener because it pours concrete, moves dirt and lays utilities for the US plants and data centers that global manufacturers and AI players are spending on. The analyst consensus Narrative on Simply Wall St frames how much of that pipeline is already contracted and what needs to go right to realise it.

"Sterling Infrastructure’s multi year pool of signed backlog and high probability future phase work now exceeds US$7b, heavily weighted to mission critical data center and semiconductor projects. This could continue to support revenue growth and earnings visibility if awards convert into execution as planned. If Sterling Infrastructure cannot hire and train enough qualified electricians, because each journeyman can supervise only four apprentices and it takes 4 to 5 years to reach journeyman status, the company may be forced to turn away or slow new electrical work. That would cap E-Infrastructure revenue growth and limit future earnings.

For investors tracking Sterling Infrastructure, a single constraint on future capacity could end up mattering more than any headline about new projects.

That bottleneck is only one piece of the story. The full narrative for Sterling Infrastructure maps how capacity, contracts and execution risk could interact as US onshoring accelerates.

Legence (LGN)

Overview: Legence designs, builds and maintains mission critical HVAC and mechanical systems for US data centers, industrial facilities and other complex buildings.

Operations: Legence generates about US$757 million from Engineering & Consulting and US$3.0b from Installation & Maintenance, all in the United States.

Market Cap: US$3.9b

Legence matters for this US Manufacturing and Onshoring Beneficiaries screener because it wires the guts of new data centers and advanced factories that global capital is funding, and the analyst consensus Narrative on Simply Wall St argues that the real story is how much of that work is already locked in.

"Concentrated exposure to large scale data center and technology projects, supported by a record US$5.4b backlog and awards, gives multi year visibility on project activity and can support revenue growth and operating leverage as those projects convert to sales and earnings."

What happens to that visibility if one pressure point on execution or customer spending quietly shifts against Legence’s current playbook?

If that execution risk is what worries you, the full narrative for Legence lays out how Legence’s backlog strength could still fuel accelerating returns if conditions stay supportive.

nVent Electric (NVT)

Overview: nVent Electric designs and installs electrical connection and protection hardware that keeps US factories, grids and data centers powered and running reliably.

Operations: nVent Electric produces about US$3.8b from Systems Protection and US$1.5b from Electrical Connections, with most revenue coming from the Americas.

Market Cap: US$18.2b

nVent Electric matters for this US Manufacturing and Onshoring Beneficiaries screener because it supplies the electrical skeleton and cooling hardware that overseas capex and AI data center buildouts rely on. The analyst consensus Narrative on Simply Wall St argues that the key factor is how efficiently that new capacity converts into profitable infrastructure revenue.

"The planned Blaine and Blaine 2 liquid cooling facilities in Minnesota, with Blaine 2 expected to open in the first half of 2027, expand nVent Electric’s capacity to serve high density AI workloads and could support higher Systems Protection revenue and maintain returns on sales near the low 20% area."

What investors will be watching is how one unseen pressure on that rollout ultimately shapes pricing power and the durability of those margins.

That margin question is only the starting point, and the full narrative for nVent Electric shows how nVent Electric’s AI buildout, pricing power and risk factors could be quietly accelerating.

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