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Billionaire investor Mario Gabelli's infrastructure plays

Michelle Fox
Updated

Infrastructure stocks have gotten a big boost after President Donald Trump's election, but the run is "not even beginning," billionaire value investor Mario Gabelli told CNBC on Friday.

Trump has promised to spend $1 trillion to upgrade America's infrastructure.

"Infrastructure is important because it helps fiscal stimulation, it offsets monetary policy, it helps the jobs in the middle of the country, it helps everyone," the chairman and CEO of Gamco Investors said in an interview with " Power Lunch ."

"We like everyone that has this ecosystem."

He specifically likes CNH Industrial , which designs, produces and sells construction equipment. He sees it going up to $20 a share in the next 3 to 4 years.

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Gabelli also likes "anything to do with water," such as Mueller Water Products , which has a new CEO and is a "work in progress."

And with an electric grid that needs to be reinforced, he'd buy some utility companies.

Disclaimer

Disclosures: Gabelli owns CNH Industrial and Mueller Water Products in his funds.