In fact, this issue can be considered under a geometrical point of view.

Let us observe the vertices of the thin parabolas.
Let ($P$) be the red parabola. Let ($P'$) one of the tangent parabolas
Let $C$ be its contact (=tangency) point with ($P$) and $V$ its vertex ; $V$ is thus the image of the vertex $O$ of the red parabola by a central symmetry with center $C$ ; this is equivalent to say that $V$ is the image of $C$ by the homothety (=enlargement) with center $O$ and enlargment factor 2. As the point of contact may be any point of parabola ($P$), the locus of the vertices of parabolas $(P')$ is the image of (red) parabola ($P$) by this homothety.
How can we obtain its equation ? Let us first transform the cartesian equation of $(P)$ into the following parametric representation :
$$\begin{cases}x&=&t^2\\ y&=&2 \sqrt{a} \ t\end{cases},\tag{1}$$
(check it by extracting $t$ from the second equation and plugging its expression into the first equation).
The effect of the homothety is to magnify the coordinates by a factor $2$, giving :
$$\begin{cases}X&=&\color{red}2 \times t^2\\ Y&=&\color{red}2 \times 2 \sqrt{a} \ t\end{cases}.\tag{2}$$
It remains to convert back equation (2) into a cartesian equation ; to this end, we have to eliminate $t$. We extract $t$ from the second equation : $t=\frac{Y}{4\sqrt{a}}$ and plug this expression into the first equation, giving $X=2 \times \left(\frac{Y}{4\sqrt{a}}\right)^2$ i.e.
$$Y^2=8a X$$
which is the looked for cartesian equation of the locus (green parabola on the figure).
But, as remarked by @Greyes, if the tangent parabolas $(P')$ have the same orientation as parabola ($P$), we get a completely different answer : see figure below.

In this case, the locus is the (green) parabola symmetrical of parabola ($P$) with respect to vertical axis.