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Mairs & Power Funds Buys MDT, BMI, PEP, MXA, UNP, Sells MOT, NSC,

November 18, 2010 | About:

gurufocus

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Mairs & Power Funds are fund by Bill Frels. This is their third quarter portfolio. The funds invest in growth companies at reasonable price.

Over the past 12 months, the fund gained 17.52%. Averaged 2.73% annually over the past 5-year period, and 6.11% in 10-year period, 13.57% in 20-year period. The funds beat the market average in all periods.

For the last three years, the Mairs and Power Growth Fund has had annual turnover of less than 5%. That implies a 20 year holding period.

Their outlook: Prospects for the stock market remain quite promising, considering the outlook for corporate earnings together with the historically low level of interest rates. Valuation levels also appear reasonable (14 x estimated 2010 S&P 500 earnings), especially when compared with other similar periods.

Bill Frels buys Medtronic Inc., Mairs & Power Inc. As of 09/30/2010, Mairs & Power Inc. owns 129 stocks with a total value of $3.2 billion. These are the details of the buys and sells.

For the details of Bill Frels's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Bill+Frels

This is the sector weightings of his portfolio:

Industrials 38.8%
Health Care 17.9%
Financials 11.9%
Basic Materials 10.5%
Consumer Goods 6.3%
Consumer Services 6.2%
Technology 4%
Oil & Gas 3.5%
Utilities 0.3%
Telecommunications 0.3%


These are the top 5 holdings of Bill Frels

  1. 3M Company (MMM) - 2,000,465 shares, 5.45% of the total portfolio. Shares reduced by 0.08%
  2. Emerson Electric Co. (EMR) - 2,647,923 shares, 4.38% of the total portfolio. Shares reduced by 0.49%
  3. Target Corp. (TGT) - 2,478,896 shares, 4.16% of the total portfolio. Shares reduced by 0.04%
  4. Ecolab Inc. (ECL) - 2,517,032 shares, 4.01% of the total portfolio. Shares reduced by 4.94%
  5. Medtronic Inc. (MDT) - 3,480,606 shares, 3.67% of the total portfolio. Shares added by 4.5%


Added: Medtronic Inc. (MDT)

Bill Frels added to his holdings in Medtronic Inc. by 4.5%. His purchase prices were between $31.21 and $38.06, with an estimated average price of $35.14. The impact to his portfolio due to this purchase was 0.16%. His holdings were 3,480,606 shares as of 09/30/2010.

Medtronic is the world's medical technology company, pioneeringdevice-based therapies that restore health, extend life and alleviate pain. Medtronic Inc. has a market cap of $37.36 billion; its shares were traded at around $34.6 with a P/E ratio of 10.6 and P/S ratio of 2.4. The dividend yield of Medtronic Inc. stocks is 2.6%. Medtronic Inc. had an annual average earning growth of 11.4% over the past 10 years. GuruFocus rated Medtronic Inc. the business predictability rank of 4.5-star.

Added: Badger Meter Inc (BMI)

Bill Frels added to his holdings in Badger Meter Inc by 21.3%. His purchase prices were between $37.09 and $41.03, with an estimated average price of $39.12. The impact to his portfolio due to this purchase was 0.08%. His holdings were 339,929 shares as of 09/30/2010.

Badger Meter, Inc. is a marketer and manufacturer of products, and a provider of services, using flow measurement and control technologies serving markets worldwide. Badger Meter Inc has a market cap of $631 million; its shares were traded at around $42.02 with a P/E ratio of 22.9 and P/S ratio of 2.6. The dividend yield of Badger Meter Inc stocks is 1.3%. Badger Meter Inc had an annual average earning growth of 19.3% over the past 10 years. GuruFocus rated Badger Meter Inc the business predictability rank of 3-star.

Added: Pepsico Inc. (PEP)

Bill Frels added to his holdings in Pepsico Inc. by 72.91%. His purchase prices were between $61.53 and $66.89, with an estimated average price of $65.01. The impact to his portfolio due to this purchase was 0.02%. His holdings were 22,653 shares as of 09/30/2010.

PepsiCo, Inc. consists of: Frito-Lay Company, Pepsi-Cola Company, and Tropicana Products. Pepsico Inc. has a market cap of $103.04 billion; its shares were traded at around $64.77 with a P/E ratio of 16.3 and P/S ratio of 2.4. The dividend yield of Pepsico Inc. stocks is 3%. Pepsico Inc. had an annual average earning growth of 8.9% over the past 10 years. GuruFocus rated Pepsico Inc. the business predictability rank of 4-star.

Added: Weyerhaeuser Company (WY)

Bill Frels added to his holdings in Weyerhaeuser Company by 136.48%. His purchase prices were between $15.4 and $40.7224, with an estimated average price of $20.01. The impact to his portfolio due to this purchase was 0.01%. His holdings were 20,174 shares as of 09/30/2010.

Weyerhaeuser Company is principally engaged in the growing and harvesting of timber and the manufacture, distribution and sale of forest products, real estate development and construction, and other real estate relatedactivities. Weyerhaeuser Company has a market cap of $3.65 billion; its shares were traded at around $17.27 with a P/E ratio of 82.8 and P/S ratio of 0.7. The dividend yield of Weyerhaeuser Company stocks is 1.1%.

Added: Automatic Data Processing Inc. (ADP)

Bill Frels added to his holdings in Automatic Data Processing Inc. by 124.97%. His purchase prices were between $38.61 and $42.64, with an estimated average price of $40.74. The impact to his portfolio due to this purchase was 0.01%. His holdings were 17,282 shares as of 09/30/2010.

Automatic Data Processing, Inc. is one of the largest providers of computerized transaction processing, data communication, and information services in the world. Automatic Data Processing Inc. has a market cap of $22.29 billion; its shares were traded at around $45.27 with a P/E ratio of 19.1 and P/S ratio of 2.5. The dividend yield of Automatic Data Processing Inc. stocks is 3%. Automatic Data Processing Inc. had an annual average earning growth of 1.9% over the past 10 years. GuruFocus rated Automatic Data Processing Inc. the business predictability rank of 4-star.

New Purchase: Ishares S&p 500 Index Fund (IVV)

Bill Frels initiated holdings in Ishares S&p 500 Index Fund. His purchase prices were between $102.6 and $115.26, with an estimated average price of $110.37. The impact to his portfolio due to this purchase was 0.05%. His holdings were 13,918 shares as of 09/30/2010.

Ishares S&p 500 Index Fund has a market cap of $23.84 billion; its shares were traded at around $120.38 . The dividend yield of Ishares S&p 500 Index Fund stocks is 2.1%.

New Purchase: Minnesota Municipal Income Portfolio (MXA)

Bill Frels initiated holdings in Minnesota Municipal Income Portfolio. His purchase prices were between $15.289 and $15.8, with an estimated average price of $15.61. The impact to his portfolio due to this purchase was 0.02%. His holdings were 31,200 shares as of 09/30/2010.

Minnesota Municipal Income Portfolio Inc. is a non-diversified, closed-end management investment company. Minnesota Municipal Income Portfolio has a market cap of $62.2 million; its shares were traded at around $15 . The dividend yield of Minnesota Municipal Income Portfolio stocks is 5.9%.

New Purchase: Delaware Investments Minnesota Municipal (VMM)

Bill Frels initiated holdings in Delaware Investments Minnesota Municipal. His purchase prices were between $12.97 and $13.52, with an estimated average price of $13.25. The impact to his portfolio due to this purchase was 0.01%. His holdings were 13,672 shares as of 09/30/2010.

VOYAGEUR MINN M The Fund is a closed-end, non-diversified investment company. Delaware Investments Minnesota Municipal has a market cap of $145.8 million; its shares were traded at around $12.68 . The dividend yield of Delaware Investments Minnesota Municipal stocks is 4.5%.

New Purchase: Union Pacific Corp. (UNP)

Bill Frels initiated holdings in Union Pacific Corp.. His purchase prices were between $67.43 and $82.3, with an estimated average price of $75.38. The impact to his portfolio due to this purchase was 0.01%. His holdings were 2,758 shares as of 09/30/2010.

Union Pacific Corp. consists of one reportable segment, rail transportation, and the company's other product lines. Union Pacific Corp. has a market cap of $45.62 billion; its shares were traded at around $91.69 with a P/E ratio of 18.2 and P/S ratio of 3.2. The dividend yield of Union Pacific Corp. stocks is 1.4%. Union Pacific Corp. had an annual average earning growth of 3.3% over the past 10 years.

New Purchase: Johnson Controls Inc. (JCI)

Bill Frels initiated holdings in Johnson Controls Inc.. His purchase prices were between $26.53 and $30.63, with an estimated average price of $28.67. The impact to his portfolio due to this purchase was 0.01%. His holdings were 6,650 shares as of 09/30/2010.

Johnson Controls, Inc. is a global market leader in automotive systems and facility management and control. Johnson Controls Inc. has a market cap of $24.86 billion; its shares were traded at around $36.92 with a P/E ratio of 18.7 and P/S ratio of 0.7. The dividend yield of Johnson Controls Inc. stocks is 1.4%.

New Purchase: Illinois Tool Works Inc. (ITW)

Bill Frels initiated holdings in Illinois Tool Works Inc.. His purchase prices were between $40.77 and $47.25, with an estimated average price of $44.05. The impact to his portfolio due to this purchase was 0.01%. His holdings were 4,318 shares as of 09/30/2010.

Illinois Tool Works, Inc. manufactures and markets a variety of productsand systems that provide specific, problem-solving solutions for a diversecustomer base worldwide. Illinois Tool Works Inc. has a market cap of $23.79 billion; its shares were traded at around $47.25 with a P/E ratio of 16.6 and P/S ratio of 1.7. The dividend yield of Illinois Tool Works Inc. stocks is 2.9%. Illinois Tool Works Inc. had an annual average earning growth of 7.4% over the past 10 years.

New Purchase: Frontier Commun Cp (FTR)

Bill Frels initiated holdings in Frontier Commun Cp. His purchase prices were between $7.03 and $8.24, with an estimated average price of $7.67. The impact to his portfolio due to this purchase was 0.01%. His holdings were 30,342 shares as of 09/30/2010.

FRONTIER COMMUNICATIONS CORPORATION, formerly Citizens Communications Company, is a full-service communications provider and one of the largest rural local exchange telephone companies in the country. Frontier Commun Cp has a market cap of $9.03 billion; its shares were traded at around $9.1 with a P/E ratio of 15.7 and P/S ratio of 4.3. The dividend yield of Frontier Commun Cp stocks is 8.3%. Frontier Commun Cp had an annual average earning growth of 2.9% over the past 10 years.

New Purchase: Ishares Msci Eafe Index Fund (EFA)

Bill Frels initiated holdings in Ishares Msci Eafe Index Fund. His purchase prices were between $47.09 and $55.42, with an estimated average price of $51.88. The impact to his portfolio due to this purchase was 0.01%. His holdings were 7,187 shares as of 09/30/2010.

Ishares Msci Eafe Index Fund has a market cap of $36.67 billion; its shares were traded at around $57.77 . The dividend yield of Ishares Msci Eafe Index Fund stocks is 3%.

New Purchase: The Boeing Company (BA)

Bill Frels initiated holdings in The Boeing Company. His purchase prices were between $60.76 and $69.69, with an estimated average price of $64.71. The impact to his portfolio due to this purchase was 0.01%. His holdings were 3,045 shares as of 09/30/2010.

The Boeing Company is one of the world's major aerospace firms. The Boeing Company has a market cap of $47.27 billion; its shares were traded at around $64.61 with a P/E ratio of 13.9 and P/S ratio of 0.7. The dividend yield of The Boeing Company stocks is 2.5%. The Boeing Company had an annual average earning growth of 8.5% over the past 5 years.

New Purchase: Anadarko Petroleum Corp. (APC)

Bill Frels initiated holdings in Anadarko Petroleum Corp.. His purchase prices were between $38.07 and $57.68, with an estimated average price of $50.49. The impact to his portfolio due to this purchase was 0.01%. His holdings were 5,375 shares as of 09/30/2010.

Anadarko Petroleum Corporation is one of the world's largest independentoil and gas exploration and production companies. Anadarko Petroleum Corp. has a market cap of $31.52 billion; its shares were traded at around $63.69 with a P/E ratio of 41.1 and P/S ratio of 3.5. The dividend yield of Anadarko Petroleum Corp. stocks is 0.6%. Anadarko Petroleum Corp. had an annual average earning growth of 12.8% over the past 10 years. GuruFocus rated Anadarko Petroleum Corp. the business predictability rank of 2-star.

Reduced: ADC Telecommunications Inc. (ADCT)

Bill Frels reduced to his holdings in Adc Telecommunications Inc. by 92.61%. His sale prices were between $7.63 and $12.74, with an estimated average price of $12.23. The impact to his portfolio due to this sale was -0.63%. Bill Frels still held 118,335 shares as of 09/30/2010.

ADC Telecommunications is a global supplier of broadband network equipment, fiber optics, software and systems integration services that enable communications service providers to deliver high-speed Internet, data, video and voice services to consumers and businesses worldwide. Adc Telecommunications Inc. has a market cap of $1.23 billion; its shares were traded at around $12.68 with and P/S ratio of 0.8.

Reduced: Motorola Inc. (MOT)

Bill Frels reduced to his holdings in Motorola Inc. by 72.22%. His sale prices were between $6.48 and $8.68, with an estimated average price of $7.79. The impact to his portfolio due to this sale was -0.03%. Bill Frels still held 22,735 shares as of 09/30/2010.

Motorola, Inc. is a global leader in providing integrated communications solutions and embedded electronic solutions. Motorola Inc. has a market cap of $18.99 billion; its shares were traded at around $8.135 with a P/E ratio of 24 and P/S ratio of 0.8.

Reduced: Norfolk Southern Corp. (NSC)

Bill Frels reduced to his holdings in Norfolk Southern Corp. by 44.19%. His sale prices were between $50.5 and $59.88, with an estimated average price of $56.05. The impact to his portfolio due to this sale was -0.02%. Bill Frels still held 12,000 shares as of 09/30/2010.

Norfolk Southern Corp., a Virginia-based holding company, owns two major freight railroads, Norfolk Southern Railway Company and Norfolk Western Railway Company, which operates in numerous states, the District of Columbia and the Province of Ontario. Norfolk Southern Corp. has a market cap of $22.54 billion; its shares were traded at around $61.15 with a P/E ratio of 16.3 and P/S ratio of 2.8. The dividend yield of Norfolk Southern Corp. stocks is 2.3%. Norfolk Southern Corp. had an annual average earning growth of 13.7% over the past 10 years. GuruFocus rated Norfolk Southern Corp. the business predictability rank of 4.5-star.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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