How to profit from America's crumbling infrastructure

With spring arriving across the nation and some roads and bridges soon to become free of snow, investors may be looking for an opportunity to invest in infrastructure repair.

The nation's crumbling highways and bridges are in dire need of work, fund manager Josh Duitz told CNBC's "Power Lunch" on Friday. In fact, the American Society of Civil Engineers has rated U.S. roadways with a "D," he said.

"There's a complete disrepair of our roads in the United States," said Duitz, who runs the Morningstar five-star rated Alpine Global Infrastructure Fund.

Sidney Oats of Denver Public Works patches a pothole at 2nd Avenue and Knox Court in Denver on March 3, 2015. The combination of unseasonably warm temperatures followed by freezing cold is responsible for the onslaught of potholes in the Denver area.
RJ Sangosti | The Denver Post | Getty Images
Sidney Oats of Denver Public Works patches a pothole at 2nd Avenue and Knox Court in Denver on March 3, 2015. The combination of unseasonably warm temperatures followed by freezing cold is responsible for the onslaught of potholes in the Denver area.

When looking for companies to invest in, Duitz likes those that have stable cash flows, monopolistic qualities and inflation protection. He also wants to own the owners of infrastructure.

Read More How tax reform could help save US infrastructure

To that end, he likes Ferrovial. The Spanish construction company is adding lanes on two highways in Texas and will have something called "congestion pricing."

"Every five minutes they have the ability to change a toll or tariff, and the goal is to keep traffic moving 45 to 50 miles per hour," Duitz said.

Ferrovial will own that concession in partnership with the Dallas Fire and Police Pension System, he said. It also owns part of London's Heathrow Airport and the 407 Express Toll Route in Canada.

Duitz believes cement and gravel makers will also benefit from infrastructure repair. He's bullish on the cement company Heidelberg.

Lastly, he likes Aeroports de Paris, which has bid on repairs at LaGaurdia Airport in New York.

Read MorePutting private money to work to boost infrastructure investment

—Kerima Greene contributed to this report.

Disclosures: The Alpine Global Infrastructure Fund owns Ferrovial, Heidelberg and Aeroports de Paris