Yep, that's how you install it. If you got the model for horizontal flow then make sure it's pretty close to vertical when installed. Install the meter where there is at least 10 x the pipe inside diameter before the meter and 5 x the pipe id after. Be careful when you drill to cut only the hole you need, there's not alot of extra for the gasket to seal on the sides. The instructions should specify the hole size.
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