McCain stock: Shaw Group (SGR) goes nuclear

This post is part of a series in which TheStockAdvisors.com asked financial experts to name their top stock pick if McCain or if Obama wins the election.

"John McCain has said that nuclear power must be part of a plan to address climate change and reduce our dependence on foreign oil; to benefit from this plan, buy Shaw Group (NYSE: SGR), which constructs and maintains nuclear power plants," says Paul Tracy in his Street Authority Market Advisor.

"Today, nearly half of U.S. electricity is created via conventional coal-fired plants. This made sense for us for decades -- coal is so cheap and plentiful here that the United States is often referred to as the Saudi Arabia of coal.

"However, in the past few years, the tide of public sentiment has shifted against the energy source. Primarily this is due to the emissions created by burning coal for electricity.

"In addition to the well known release of carbon dioxide, coal emissions also contain traces of mercury. On top of that, the rise of China and other emerging markets has led to higher costs for coal.

"So with a public that is increasingly interested in alternative sources of electricity and a president who is committed to increasing nuclear power usage, the companies that build and maintain nuclear plants sit in the perfect position to benefit.

"In particular, I think Louisiana-based Shaw Group is a stock to watch. SGR's largest end market is the construction and maintenance of power plants, including both plants fired by fossil fuels and nuclear facilities.

"The company also owns a 20% stake in Westinghouse Electric, one of the world's leading designers and builders of nuclear power plants.