Transmission is where the physical reality of the power buildout becomes unavoidable.
Preformed Line Products ($PLPC) and MYR Group ($MYRG) are the kind of names that can remain overlooked while the larger grid story gets crowded. Their work is less visible than a utility announcement, but conductors, fittings, poles, substations, and construction crews are what turn a plan into energized capacity.
The thesis is not that every small supplier wins. It is that a constrained system rewards companies with technical qualifications, established relationships, and the ability to execute when lead times are long.
Watch backlog conversion, labor availability, gross margins, and the pace of transmission awards. The underfollowed layer often moves after the headline names, once investors realize the buildout cannot happen without it.