Why is Trent falling/rising?

As of 02-Sep, Trent Ltd. is experiencing a decline in its stock price, currently at 5,408.95, reflecting a decrease of 40.05 points or 0.73%. Despite a recent trend of two consecutive days of gains, the stock has reversed course today. It has outperformed its sector by 0.41%, but the delivery volume has fallen by 14.83% compared to the five-day average, indicating a decrease in investor participation. Over the past week, the stock has shown a positive return of 2.20%, while its one-year performance remains significantly negative at -24.33%, which is much worse than the broader market's decline of -2.91% during the same period.
In the broader market context, while Trent Ltd. has demonstrated strong long-term growth metrics, including a high return on equity and substantial increases in net sales and operating profit, its recent performance has been overshadowed by a very expensive valuation and a high PEG ratio of 4.7. The stock's underperformance relative to the market, coupled with its significant decline over the past year, suggests that investors may be cautious despite the company's solid fundamentals and high institutional holdings. This combination of factors contributes to the current downward pressure on the stock price.