(Business Edge columnist Gyle Konotopetz regularly profiles the top stock picks of some of Canada's most accomplished investment pros.)

FEATURED PRO: Kevin Dehod is a vice-president and associate portfolio manager with McLean & Partners Wealth Management (www.mcleanpartners.com), a Calgary firm whose clients are high net-worth individuals.

Dehod's Perspective: "We've had a healthy correction in the market so we're still pretty constructive and quite positive on the market. Right now, the TSX (S&P/TSX Composite index) is trading at a price/ earnings (P/E) ratio of about 15.7 times this year's earnings and, even with higher interest rates, that's not an expensive market. The U.S. market is even cheaper at a P/E of 15.5 (on the S&P 500). I don't get nervous until I see these P/E ratios approach 20.

"One of the sectors we're finding value in is health care in the U.S, which has been ignored. We've pulled back our weightings in the energy sector (in April), trimming holdings in energy services and oil and gas trusts."

First Star

* Aetna Inc. (NYSE:AET)

* Recent Price: $38.41 US.

* 52-Week Range: $34.83-$52.48.

* Snapshot: Aetna is a health-care benefits company that operates in three business segments - health care, group insurance and large case pensions.

* CEO: Ronald Williams.

* Head Office: Hartford, Conn.

* Vital Stats (U.S. dollars): Current Price/Earnings Ratio, 14.3; Revenue (last 12 mos), $23.3 billion; 5-Yr Revenue Growth, -2.8 per cent; Earnings (last 12 mos), $1.6 billion; Market Cap, $21.7 billion; Shares Outstanding, 567 million; Dividend Yield, 5.5 per cent.

* Dehod's View: "Aetna is basically the third-largest national health-care insurance benefit company (in the U.S.) and stands to benefit from the trend in which corporate America is outsourcing medical insurance and group benefits. The stock has recently come under pressure because a couple of competitors have said there are some cost pressures in the industry, so there is some concern about margin pressure in the industry right now. However, we think that issue has been discounted with the stock trading at a P/E of about 14 times this year's earnings. We also like the fact that there has been some fairly large insider buying of the stock recently."

* Dehod's Risk Rating: Moderate.

* Web Watch: www.aetna.com

Second Star

* Praxair Inc. (NYSE:PX)

* Recent Price: $53.79 US.

* 52-Week Range: $44.52-$57.62.

* Snapshot: Praxair is an industrial gases supplier that markets to a diverse range of industries in North America, South America and Asia. The company also has related businesses in Europe.

* CEO: Dennis Reilley.

* Head Office: Danbury, Conn.

* Vital Stats (U.S. dollars): Current Price/Earnings Ratio, 23.2; Revenue (last 12 mos), $7.9 billion; 5-Yr Revenue, 8.8 per cent; Earnings (last 12 mos), $762 million; 5-Yr Earnings Growth, 13.6 per cent; Market Cap, $17.3 billion; Shares Outstanding, 323.1 million; Dividend Yield, 1.90 per cent.

* Dehod's View: "This company's primary business is in industrial gases used for manufacturing and industrial purposes, including the oilsands. This is a very high-quality and stable blue-chip company. Its main growth drivers are the industrial and manufacturing boom in Asia, the energy industry where their industrial gases are used in oilsands, refinery capacity and oil and gas drilling, and in the health-care industry.

We favour companies with strong dividend growth and in the last 10 years, Praxair has grown its dividend at a rate of 16 per cent per year. This past January, the company increased its dividend 39 per cent."

* Dehod's Risk Rating: Low.

* Web Watch: www.praxair.com

Third Star

* Bank of Nova Scotia (TSX:BNS)

* Recent Price: $42.90.

* 52-Week Range: $39.28-$49.80.

* Snapshot: Bank of Nova Scotia, one of Canada's big banks, operates in three divisions - domestic banking, international banking and Scotia Capital. Globally, it operates through branches and offices in 50 countries.

* CEO: Richard Waugh.

* Head Office: Toronto.

* Vital Stats: Current Price/Earnings Ratio, 13.1; Revenue (last 12 mos), $19.1 billion; 5-Yr Revenue Growth, -2.8 per cent; Earnings (last 12 mos), $3.3 billion; 5-Yr Earnings Growth, 11.8 per cent; Market Cap, $42.3 billion; Shares Outstanding, 988.1 million; Dividend Yield, 3.4 per cent.

* Dehod's View: "This stock has pulled back pretty good lately with the other banks because of higher interest rates. With this bank trading at a P/E of about 13 times this year's earnings and eleven and a half times next year's (projected) earnings, I think the bad news on higher interest rates has already been largely factored into the stock. What I particularly like about this bank is that they have a pretty strong international platform that none of the other (Canadian) banks have.

"They have a huge exposure internationally in the emerging markets in Asia and they have one of the lowest cost structures in the Canadian banking industry. They've also grown their dividend at 20 per cent per year over the past five years."

* Dehod's Risk Rating: Low.

* Web Watch: www.scotiabank.com

Dehod's Edge Record (past 12 mos): +15.2%. Best Pick: Manulife (TSX:MFC) +48%. Worst Pick: Duvernay Oil (TSX:DDV) -2.4%.

Disclosure: Dehod personally owns shares in Aetna and Praxair. The featured stocks are held in McLean & Partners client portfolios.

(This feature is presented for information purposes. Investors should do their own research or consider consulting a registered investment professional before making investment decisions.)