This study delves into disparities in undergraduate research participation among Black/African American and Hispanic/Latinx students using large-scale, multi-institutional data. The study's focus is guided by Intersectionality Theory and Quantitative Critical Theory, examining how race, social identities, academic majors, and institutional characteristics intersect for racially minoritized students in their engagement with undergraduate research. Additionally, the study explores how culturally engaging environments, such as Historically Black Colleges and Universities (HBCUs) and Hispanic-Serving Institutions (HSIs), play a role in the participation of historically underserved student populations in undergraduate research. The findings reveal significant disparities, indicating lower undergraduate research participation rates for first-generation Black/African and Hispanic/Latinx students. Notably, the findings suggest that enrolling at an HBCU is strongly associated with higher undergraduate research participation among Black/African and Hispanic/Latinx students. Specifically, enrolling at an HBCU appears to be correlated with reducing the effects of all other factors except enrollment in STEM majors. Conversely, enrolling at HSIs negatively correlates with participation for both Black/African American and Hispanic/Latinx students. The study underscores the critical need to address disparities in undergraduate research participation, providing insights into institutions striving to create equitable opportunities, especially for students from minoritized backgrounds.