Enviri Stock Up 119% in a Year, and One Fund Decided to Exit Its $5.5 Million Position
Key Points
Vision One Management sold 436,911 shares of Enviri Corporation in the fourth quarter.
The quarter-end position value decreased by $5.54 million as a result.
The stake previously represented 3.5% of the fund’s AUM as of the prior quarter; it is now fully liquidated.
On February 17, 2026, Vision One Management Partners, LP, sold its entire stake in Enviri Corporation (NYSE:NVRI), liquidating 436,911 shares in a transaction estimated at $5.54 million.
What happened
According to a filing with the Securities and Exchange Commission dated February 17, 2026, Vision One Management Partners sold its entire holding of 436,911 shares in Enviri Corporation during the fourth quarter. The net position change for the quarter, reflecting both trading activity and price movement, was a decrease of $5.54 million.
What else to know
- Vision One Management Partners fully exited the Enviri Corporation position, which previously made up 3.5% of the fund’s 13F assets under management
- Top holdings after the filing:
- NYSE: HXL: $40.36 million (22.6% of AUM)
- NYSE: NGVT: $27.09 million (15.2% of AUM)
- NYSE: TNC: $25.40 million (14.3% of AUM)
- NYSE: CC: $20.28 million (11.4% of AUM)
- NASDAQ: POWL: $19.59 million (11.0% of AUM)
- As of February 18, 2026, shares of Enviri Corporation were priced at $19.20, up 119.9% over the prior year, outperforming the S&P 500 by 107.67 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2/18/26) | $19.20 |
| Market capitalization | $1.55 billion |
| Revenue (TTM) | $2.24 billion |
| Net income (TTM) | ($166.56 million) |
Company snapshot
- Enviri Corporation provides environmental solutions for industrial and specialty waste streams, including on-site services, material logistics, resource recovery, waste processing, and recycling.
- The company generates revenue through long-term service contracts, product sales (industrial abrasives, roofing granules, aluminum dross), and specialty waste treatment and recycling solutions.
- It serves industrial manufacturers—particularly in iron, steel, and metals—as well as clients requiring hazardous and non-hazardous waste management in the United States and internationally.
Enviri Corporation is a leading provider of environmental and waste management solutions, operating through its Harsco Environmental and Harsco Clean Earth segments. The company leverages a combination of long-term service contracts and value-added product offerings to serve industrial and specialty waste markets at scale. Its integrated approach to resource recovery and waste treatment positions Enviri as a key partner for manufacturers and organizations seeking sustainable waste management solutions.
What this transaction means for investors
Big one-year gains often tempt disciplined managers to rotate capital, especially in cyclical names tied to industrial activity. Enviri’s nearly 120% stock surge over the past year created exactly that kind of moment.
Operationally, the third quarter was mixed. Revenue held roughly steady at $575 million, but the company posted a $20 million GAAP loss from continuing operations and generated $74 million in adjusted EBITDA, down from $85 million a year earlier. Management also lowered full-year guidance, now expecting adjusted EBITDA of $268 million to $278 million and negative free cash flow of $30 million to $20 million. An amended credit agreement, which allows for potential strategic alternatives including a sale of Clean Earth, added flexibility but underscores balance sheet sensitivity.
Against that backdrop, exiting a position that previously represented 3.5% of assets looks less like panic and more like capital reallocation. This portfolio leans into industrial and specialty chemical exposures such as Hexcel, Ingevity, and Chemours, so trimming an environmental services name after a sharp rally could simply rebalance risk.
For long-term investors, the key question is execution. Enviri needs sustained margin recovery and improved cash generation before the rally becomes fundamental, not just cyclical.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Hexcel and Tennant. The Motley Fool has a disclosure policy.