Reasons for the Rise of Jacobs Solutions (J) Shares

Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. As measured by the S&P 500 Index, the markets were mixed in the third quarter. The fund returned -3.14% in the quarter compared to -3.27% return for the S&P 500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Sustainable Equity 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 25, 2023, Jacobs Solutions Inc. (NYSE:J) stock closed at $132.80 per share. One-month return of Jacobs Solutions Inc. (NYSE:J) was -2.48%, and its shares gained 16.97% of their value over the last 52 weeks. Jacobs Solutions Inc. (NYSE:J) has a market capitalization of $16.722 billion.

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

“Jacobs Solutions Inc. (NYSE:J) was up nicely during the third quarter. The stock responded well to an in-line quarter with Federal Infrastructure and reshoring tailwinds continuing to benefit its outlook. The Critical Mission Solutions (CMS) business will be spun out or sold in 2024. Along with this spin-out, management has highlighted opportunities to optimize its People & Places Solutions business.”

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Photo by Rodeo Project Management Software on Unsplash

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.