Here’s Why Madison Investors Fund Sold Jacobs Solutions (J) Despite a Bright Future

Madison Investments, an investment advisor, released its “Madison Investors Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Fund (class Y) declined -1.3% compared to a -3.3% decline for the S&P 500 Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Investors Fund highlighted stocks like Jacobs Solutions Inc. (NYSE:J) in the third quarter 2023 investor letter. Headquartered in Dallas, Texas, Jacobs Solutions Inc. (NYSE:J) offers consulting, technical, scientific, and project delivery services. On October 27, 2023, Jacobs Solutions Inc. (NYSE:J) stock closed at $131.14 per share. One-month return of Jacobs Solutions Inc. (NYSE:J) was -2.40%, and its shares gained 13.82% of their value over the last 52 weeks. Jacobs Solutions Inc. (NYSE:J) has a market capitalization of $16.513 billion.

Madison Investors Fund made the following comment about Jacobs Solutions Inc. (NYSE:J) in its Q3 2023 investor letter:

“Jacobs Solutions Inc. (NYSE:J), a professional services firm, is benefitting from increased spending on large infrastructure, water, and energy transition projects. Jacobs Solutions is a professional services firm spanning consulting, engineering, and project delivery for both the public and private sector. We admire the company’s strong position across infrastructure, water, advanced manufacturing, and energy transition – all areas which we believe have a bright future. However, as the shares appreciated, we decided to sell to fund more attractive opportunities.”

dna, health, medicine

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Jacobs Solutions Inc. (NYSE:J) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Jacobs Solutions Inc. (NYSE:J) at the end of second quarter which was 40 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.