Bursting water mains are an everyday problem in America.
The American Society of Civil Engineers estimates about 240,000 blow every year. It gives America’s drinking water infrastructure a “D” grade, noting some pipes are more than 100 years old.
Municipalities have long neglected water system maintenance, often allocating scarce dollars to more pressing needs. The result is often a sink hole large enough to swallow cars.
Aqua America, a publicly traded water utility, offers a solution. The company buys up water systems and repairs them. CEO Nicholas DeBenedictis has positioned his company to prosper from the great infrastructure crisis that may lay ahead. Meantime, his stock has been climbing and his dividend has been growing.
Click here to read my column on MarketWatch.